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Govt decides to keep petroleum prices unchanged for next 15 days

petroleum prices

ISLAMABAD: The federal government has decided to keep the prices of petroleum products at their existing rates for the next 15 days.

According to a  notification issued by Finance Division today, “The Government of Pakistan in its endeavor to provide maximum relief to the public has decided to absorb most of the increase in international prices of petroleum products.”

The Ministry of Finance said that the prices of petrol and light diesel will remain unchanged and it will be available at the rate of Rs 100.69 and Rs 62.86 per liter respectively.

The price of High-Speed Diesel (HSD) has been hiked by Rs 4 per liter till December 15, according to a notification. The price of High-Speed Diesel will be Rs 105.43.

Earlier, the Oil and Gas Regulatory Authority (OGRA) had recommended the petroleum division to raise fuel prices including that of petrol in December.

The OGRA had recommended raising petrol prices by Rs 2.55 per litre from December 1 while High-speed diesel should be increased by Rs2.70. Meanwhile, OGRA has notified a Rs 2 per kg hike in the price of Liquefied Petroleum Gas (LPG) for the month of December 2020.

According to the notification, LPG will be available at Rs132/kg in the market; domestic cylinder will cost Rs 1,553 (Rs23 more than last month) whereas commercial cylinder will be sold at Rs5, 976 (+Rs88).

Sources in the LPG industry informed that local production of LPG during the ongoing year stood at approximately 603,997 metric tonnes (MT), whereas LPG imported so far was 360,285MT. Approximately 120,000MT of LPG will be sold during December.