Decrease in petrol price: Ishaq Dar issues clarification

ISLAMABAD: Finance Minister Ishaq Dar on Tuesday issued a clarification over reports circulating that the Oil and Gas Regulatory Authority (OGRA) had recommended a decrease in the price of petrol, ARY News reported.

Taking to Twitter, the finance minister termed the reports circulating in both press and electronic media that the OGRA had recommended a decrease in the price of petrol ‘baseless and untrue.’

“Some reports have been circulating that OGRA made recommendation to the government for a reduction in the price of Motor Spirit/Petrol with effect from 1st May, 2023, which are baseless and untrue,” the minister clarified.

Clarification!

Some reports have been circulating in the press and electronic media stating that OGRA made recommendation to the Government for reduction in the price of Motor Spirit/Petrol with effect from Ist May 2023, which are baseless and untrue.

— Ishaq Dar (@MIshaqDar50) May 2, 2023

Meanwhile, OGRA spokesman Imran Ghaznavi in a brief press statement said the authority did not recommend any decrease in the prices of MS/Petrol.

“The recent decrease in international price was offset against the outstanding exchange rate adjustment, and as such, there was no room for a decrease in the local prices of MS/Petrol.”

It is pertinent to mention here that the federal government on April 30 reduced the prices of all petroleum products, except petrol, by Rs5 to 10 per litre for the next fortnight ending May 15.

In a video address, Ishaq Dar announced that the price of petrol would remain unchanged at Rs282 per litre while the price of high-speed diesel (HSD) was reduced by Rs5 per litre to Rs288.

Meanwhile, the prices of light-diesel oil and kerosene were being reduced by Rs10 to Rs164.68 and 176.07 per litre, respectively.