Government decided to keep petroleum products prices same

The government has decided to keep prices of petrol and high octane unchanged for the month of June.

According to sources, the concerned ministry has decided to increase price of high speed diesel by Rs3.34 per liter, light diesel Rs2.23 and kerosene oil by Rs1.98 per liter.

The Ministry of Petroleum and Natural Resources received a summary from the OGRA on Monday that sought an upward revision in oil prices as international crude rates reached $50 per barrel.

OGRA had recommended Rs0.85 per liter hike in petrol price, high speed diesel Rs6.69, high octane Rs2.18, kerosene oil Rs4.57 and Rs4.47 hike on per liter light diesel.

While addressing the media in Islamabad, Federal Finance Minister Ishaq Dar stated that Prime Minister (PM) Nawaz Sharif has always intended to provide as much as possible relief to the public. He added that the prices of petroleum products are not being increased in order to provide benefit to the people during the holy month of Ramazan.

Dar said that OGRA suggested an increase of 85% in the prices of petroleum products for the month of June but the summary was not accepted as the government shall be bearing additional loss of Rs 8.5 billion.