ISLAMABAD: Against recommendation of the Oil and Gas Regulatory Authority (Ogra), Prime Minister Imran Khan has decided to maintain the prices of petroleum products at the current level for October, “so as not to burden the consumers with the sudden hike in prices”.
Considering the increase in global oil prices, the Ogra has recommended the following increase in petroleum product prices for October: 92 RON petrol by Rs 4.10 a litre, diesel by Rs 4.41 a litre, kerosene oil by Rs 3.66 a litre and light diesel oil by Rs 3.39 a litre.
However, it has been considered that there has been a sharp increase in the global oil prices recently and there is uncertainty in the international market, because of which the increasing trend in prices could reverse, reported Press Information Department.
In order to absorb the effect of the increased international prices, the government will correspondingly reduce the applicable sales tax rate on diesel from the current 22% to 17.5%; on petrol from 9.5% to 4.5% and kerosene oil from 6% to 1.5%; while sales tax on light diesel oil will be zero.
