Islamabad (August 01, 2018): Despite recommendations of price increase by Oil and Gas Regulatory Authority, the caretaker government and finance ministry decided to maintain oil prices at the current level for the month of August.
The caretaker government has decided not to change the prices of petroleum products for the month of August, said the statement issued by the ministry of finance on Tuesday.
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As per the statement, the caretaker government did not support the recommendation of Oil and Gas Regulatory Authority (Ogra) to increase prices of petroleum products in August.
According to the ministry, the decision to keep oil prices unchanged, was taken to give relief to the masses. The prices may remain unchanged until August 31, unless the caretaker prime minister feels the need for a change.
The Oil and Gas Regulatory Authority (Ogra) had recommended an increase in prices of petroleum products for August and the government was supposed to announce it on July 31.
Earlier on July 7, the federal government reduced prices of petroleum products by up to Rs6.37 per litre in order to provide relief to the general public.
According to a notification issued by the Ministry of Finance, the petrol price was reduced by Rs4.26 to Rs95.24 per litre, high-speed diesel by Rs6.37 to Rs112.94, kerosene oil by Rs3.74 to Rs83.96 and light diesel oil by Rs5.54 to Rs75.37.
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