Staff Reporter
Islamabad
The government has decided not to change petroleum prices for the month of September, according to a press release issued on Monday. Instead the August prices will carry forward.
Last week, informed sources had said the government would increase the prices of petroleum products by Rs8-9 per litre after increasing the levy on petrol and diesel.
They said the Oil and Gas Regulatory Authority had completed its working on the oil pricing based on revised formula under which the government would set prices on a fortnightly basis and in line with prices published in Platt’s Oilgram instead of the existing monthly calculations on the basis of import cost of the Pakistan State Oil.
The sources said the revised formula was based on increased petroleum levy of Rs30 per litre on both high speed diesel and petrol instead of the existing rate of Rs25.73 and Rs27.70 per litre, respectively.
