Business

Petroleum Prices To Remain Unchanged Till June 7: Miftah

The government has decided to maintain the prices of petroleum products. In a statement Finance Minister Miftah Ismail said that existing prices will be unchanged till 7th of next month.
Earlier on Wednesday, the Oil and Gas Regulatory Authority (OGRA) sent a summary to the power division suggesting an increase in various petroleum products effective from June 1.
OGRA recommended hike of Rs. 8.37 per litre in petrol prices, while an increase of Rs. 12.5 per litre in diesel prices is recommended.
The price of price of kerosene oil has been recommended to be increased by Rs8.23 per litre and price of high-speed diesel by Rs.12.50 per litre.
It is pertinent here to mention that the federal government has increased prices of petroleum products nine times during the last 12 months, while only three times the prices were decreased. The government also received Rs. 20 tax on petrol while Rs. 30 on diesel.
According to the statistics, the PML-N-led government raised Rs2 in September and October 2017, Rs. 2.49 in November 2017, Rs. 1.48 in December, Rs. 4.6 in January 2018, Rs. 2.98 in February and Rs. 3.56 were raised in March 2018.
During one year, the government increased the price of diesel by Rs. 15.76.