The Prime Minister Shehbaz Sharif led coalition government has decided to keep the prices of petroleum products unchanged till April 30.
Sources told the scribe that Prime Minister Shahbaz Sharif rejected the summary of the increase in the prices of petroleum products, which will remain unchanged from April 16 on wards.
The current price of petrol stands at Rs. 149.86 per liter, whereas the per-liter prices of diesel, kerosene oil, and light diesel are Rs. 144.15, Rs. 125.56, and Rs. 118.31, respectively.
To recall, the Oil and Gas Regulatory Authority (OGRA) on Thursday recommended an increase in petroleum prices by up to Rs. 119 effective from April 16, 2022. The regulator had proposed an increase in prices of high-speed diesel (HSD) by Rs. 119 per liter, prices of petrol by Rs. 83.50 per liter, prices of kerosene oil by Rs. 77.56 per liter, and light diesel oil (LDO) by Rs. 77.31 per liter.
It is pertinent to mention here that back in February, former Prime Minister Imran Khan had announced a reduction of Rs. 10 per liter in petroleum prices and announced the new rates would remain in place untill June 30, 2022.
Global crude oil prices have soared since then, however, prices of petroleum products have remained unchanged in Pakistan.