Petroleum products prices would remain same for August, as per an announcement made by Ministry of Finance
POL price adjustment was not made by the bureaucracy due to the recent situation going on in Pakistan on disqualification of PM Nawaz Sharif.
Finance Division spokesperson said that the petroleum product prices would remain unchanged for August until a capable authority makes a decision.
The Ministry of Finance makes adjustments on the prices of petroleum items on last day of each month. Adjustments are made in accordance with monthly price adjustment policy and keeping in mind the recommendations by OGRA. The new POL prices are announced each month. So now for the first time, due to the absence of Chief Executive the bureaucracy has not made any decision. So the current low international oil prices would not benefit Pakistani consumers.
Also, we should tell our readers that just last week OGRA recommended to the government to reduce Motor Gasoline (Petrol) price by Rs3.67 per liter and High-Speed Diesel (HSD) by Rs5.07 per liter for August month. Similarly, OGRA also suggested raising the prices of
Kerosene and Light Diesel Oil by Rs13 per liter and Rs10.01 per liter respectively.
The Ministry of Petroleum and Natural Resources and the Ministry of Finance, OGRA suggested reducing petrol prices and High-Speed Diesel prices by 5.1% and 6.3% respectively. A recommendation was also made by OGRA to raise the price of Superior Kerosene oil and Light Diesel Oil by 29.5% and 22.8% respectively. These statistics are reported by a working paper.