ISLAMABAD – The federal government has decided to keep the prices of petroleum prices unchanged for the rest of the current month on account of Eid. To maintain price parity between Petrol and CNG, gas prices would also remain unchanged.

Oil and Gas Regulatory Authority (Ogra), in a summary regarding determination of POL products prices for remaining fifteen days of August, had proposed to revise up the prices up to Rs4.85 per litre in the wake of ascending trend in the international oil market.

But at the same time the authority, which is supposed to protect consumers’ interest, recommended the government against passing the price surge on to the consumers by decreasing the imposed petroleum levy (PL). The government acceded to this request and decided to maintain the prices as an Eid gift to the already heavily-burdened people.

But it is expected the prices will surge in the next month as the cash-starved government has been turning jacking up the prices of various commodities, including the daily-use items, too frequently. Adviser to the PM on Petroleum and Natural Resources Dr Asim Hussain told the media persons that owing to non-cooperation of provincial governments, the federal government was facing the whole burden of Rs2billion subsidy.

Following this decision of maintaining the POL prices, per litre price of Petrol would stand at Rs93.57, HOBC Rs120.16, Kerosene oil Rs92.83, HSD Rs101.79 and LDO Rs90.11 during second half of the current month. The CNG price would remain at previous price of Rs85.67 per kg in Khyber Pakhtunkhwa and Potohar region and Rs78.26 per kg in Punjab and Sindh region.

Ogra had proposed to revise up prices by Rs3.21 for Petrol, Rs4.85 HOBC, Rs3.52 Kerosene oil, Rs4.40 HSD and Rs3.19 for LDO. But the government maintained the consumer prices by decreasing the petroleum levy (PL) on petroleum products by Rs2.87/litre for Petrol, Rs4.18 HOBC, Rs3.03 Kerosene oil, Rs 3.79 HSD and Rs2.75 for LDO.