Petroleum prices in Pakistan to remain unchanged for October
The decision was taken in light of the rise in petroleum prices in international market.
ISLAMABAD (Dunya News) – Petroleum prices will remain unchanged for the month of October, said a statement issued by the Ministry of Finance.
According to a notification issued by the finance ministry on Monday, the existing price of September 2019 will remain unchanged for the next month.
The decision was taken in the light of the rise in petroleum prices in international market, the notification read.
It further stated that the petroleum prices were expected to rise internationally from mid-December and the trend of rising prices would continue till November.
The Ogra had calculated up to 2.6pc reduction in the prices of major petroleum products for October as crude prices declined to $59 per barrel in the Middle East by end of August from $63per barrel at July end. Based on import parity price of Pakistan State Oil (PSO), Ogra had worked out about Rs3.23 per litre decrease in the price of HSD, Rs2.55 per litre in petrol and Rs2.41 per litre for the price of light diesel oil (LDO). On the other hand, the regulator had worked out an increase of Rs1.19 per litre for kerosene oil.
However, following government’s decision, the ex-depot price of HSD and LDO will remain unchanged at Rs127.14 and Rs113.24 per litre. Likewise, the ex-depot price of kerosene oil and LDO would also remain at the existing level of Rs99.57 per litre and Rs91.89 per litre.
