Petroleum prices to stay unchanged for October

ISLAMABAD - The Pakistan Tehreek-e-Insaf-led federal government decided on Monday to retain the existing petroleum prices, rejecting the summary sent earlier by the Oil and Gas Regulatory Authority (OGRA).

According to an official notification, the decision was taken in light of the rise in petroleum prices in the international market.

The finance ministry’s notification further stated that petroleum prices are expected to rise internationally from mid-December, adding that the trend of rise in prices will continue until November.

OGRA proposes reducing petroleum prices for October

Earlier, OGRA had recommended a reduction in the fuel prices, with a proposal of a Rs2.55-a-litre cut in petrol, as per a summary sent to the Petroleum Division on Friday.

The authority had also recommended slashing prices of diesel, and light diesel oil by Rs3.23, and Rs2.41, respectively.