ISLAMABAD: The government decided to keep the prices of petrol and high speed diesel (HSD) unchanged for the third consecutive month and reduce kerosene and light diesel oil (LDO) prices from Aug 1.
According to an official press release, Finance Minister Ishaq Dar discussed with Prime Minister Nawaz Sharif in Madina a summary sent by the Oil and Gas Regulatory Authority (Ogra) recommending an increase in prices of petrol and other petroleum products, but the PM rejected the proposal.
Ogra had recommended an increase of Rs2.19 per litre for petrol, 60 paisa for HSD and Rs4.65 for HOBC and a reduction of 31 paisa per litre for kerosene and 81 paisa for light diesel.
Petrol will continue to sell at Rs107.97 per litre, HSD at Rs109.34 and HOBC at Rs134.63. But the price of kerosene will be reduced to Rs97.09 per litre and that of LDO to Rs93.32.
However, the increase in prices of aviation fuels and furnace oil in the international market has been passed on to consumers. The prices of JP-8 and JP-1 have been increased by about 50 paisa per litre and those of light sulphur furnace and high sulphur furnace by Rs2,000 per ton to Rs77,000 and Rs83,000, respectively.
The finance ministry said the government would provide a subsidy of Rs1.36 billion to keep the prices of petrol, diesel and HOBC unchanged for August.