ISLAMABAD: The federal government decided on Monday to continue with the regular petroleum prices, rejecting the summary sent earlier by the Oil and Gas Regulatory Authority.
According to an official notification today, the decision was taken in light of the rise in petroleum prices in international market.
The finance ministry’s notification further said that the petroleum prices are expected to rise internationally from mid-December.
It further said that the trend of rise in prices will continue until November.
The 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.
Sources told that the OGRA recommended the per-litre prices of petrol, diesel, and light diesel oil to be reduced by Rs2.55, Rs3.23, and Rs2.41, respectively.