Oil prices to remain unchanged for May

ISLAMABAD: State Minister for Information and Broadcasting Farrukh Habib has said that prices of petroleum products would remain unchanged for May.
In a couple of tweets on Monday, the state minister said that prices of petroleum products will remain the same till May 31. He said that Prime Minister Imran Khan has decided not to burden the people despite increasing rates in the international market.
The minister claimed the national exchequer would suffer a loss of Rs2.77 billion if the rates of petroleum products are not increased. “The government has not only adjusted petroleum levy but also reduced the sales tax on light diesel and kerosene oil.”
Therefore, petrol will continue to cost Rs108.56 per litre, diesel Rs110.76 per litre, kerosene oil Rs80, and light diesel oil Rs77.65 per litre.
Earlier, the Oil and Gas Regulatory Authority (OGRA) sent a summary to the Petroleum Division for bringing the prices up. According to sources, the OGRA proposed an increase of Rs3.25 and Rs1.90 in prices of diesel and petrol, respectively.
In a bid to give relief to the masses in the holy month of Ramazan, Prime Minister Imran Khan decided not to increase the price of petroleum products, a statement issued by the Ministry of Finance had said on April 30.
Therefore, petrol continued to cost Rs108.56 per litre in the first two week of the month. According to the notification, the price of diesel was also notified to remain the same, at Rs110.76 per litre. Kerosene oil was to continue to be priced at Rs80, whereas light diesel oil was to also cost the same, at Rs77.65 per litre. – TLTP