ISLAMABAD: The government has maintained the prices of petroleum products for the month of May, ARY News reported on Sunday.
Finance Minister Ishaq Dar, addressing a press conference, turn down recommendations by the Oil and Gas Regulatory Authority (OGRA).
The regulatory body had suggested hike of Rs 10 per litre in light diesel oil (LDO), Rs 15 per litre in kerosene, and reduction of Rs 1.10 per litre in prices of petrol and Rs 1.20 in high speed diesel (HSD).
The finance minister turned down the recommendation by OGRA and said that price will remain unchanged. He further said the government would give subsidy to maintain the prices.
The petroleum prices would remain same with diesel at Rs84, petroleum Rs74, and kerosene oil and light diesel oil at Rs44 rupees per liter.
OGRA’s recommendations of hike in prices of kerosene and LDO have been declined by the ministry in last three months.
However, consumers have been facing partial increment in oil prices during the past several months due to fluctuations in global oil prices.