Interim government might keep the oil prices unchanged for August 2018 – Research Snipers

Interim government might keep the oil prices unchanged for August 2018

Oil and Gas Regulatory Authority OGRA has sent a summary to the government which proposed to raise the oil prices, according to the summary OGRA proposed to increase petrol price by more than Rs2.45 and Hi-speed diesel by Rs2.70.

The summary has been sent to the ministry of finance to review and make the decision on oil prices for the month of August. But the interim government is thinking of keeping the oil prices unchanged for the month of August. The government is mulling to leave the decision to the upcoming government of PTI.

According to the sources in OGRA, two recommendations were being considered by the government to make changes in oil and gas products—reported Express Tribune

The first proposal is to keep the prices unchanged and allow the next government which is likely to form within two weeks from now to make decisions on oil prices. The second proposal is to increase the prices of petrol and HSD by Rs2.10, however, the final decision on oil prices will be taken today on Tuesday.

The energy minister Ali Zafar said we had a recommendation to keep the prices unchanged for the of petroleum products because only one week is left for the new government to take control, it is better if they decided for the future prices.