Petrol price remains unchanged

The Oil and Gas Regulatory Authority (OGRA) had sent a summary to Petroleum Ministry recommending hike in the prices of Petrol from Rs.107.97 to Rs.110.16, HOBC from Rs.134.63 to Rs.139.28 and High Speed Diesel from Rs.109.34 to Rs.109.96 while it had proposed decrease of Kerosene from Rs.97.63 to 97.09, and Light Diesel Oil from 94.13 to Rs.93.32.

The Finance Minister Ishaq Dar, while in Madinah Munawara, met with the Prime Minister Mian Mohammad Nawaz Sharif to discuss the prices of petroleum for the month of August in light of the recommendations made by OGRA.

During the meeting it was decided to maintain the prices at current level but pass on the benefit of decrease of Rs.0.31 in Kerosene Oil and Rs.0.81 in Light Diesel Oil to consumers with effect from July 29, 2014.