Business

Govt decides to keep petroleum product prices unchanged

The Pakistan Tehreek-e-Insaf (PTI) government has decided to keep petroleum product prices unchanged for October 2018 in a bid to provide relief for consumers.
The decision came despite the fact that the Oil and Gas Regulatory Authority (Ogra) had recommended an increase of up to Rs4.41 per litre in prices of petroleum products for the monthly rate revision for October.
Talking to media on Saturday, Finance Minister Asad Umar said the government had decided not to increase petroleum product prices for the month of October. Existing prices would be maintained as the government did not want to burden consumers with the price hike, he said.
The regulator had proposed an increase of Rs4.10 per litre in the price of petrol and Rs4.41 per litre for high-speed diesel. For kerosene oil and light diesel oil, it proposed increase of Rs3.66 and Rs3.39 per litre respectively.