The government has decided not to change the prices of petroleum products during August 2018. Despite the price hike recommended by the Oil and Gas Regulatory Authority (OGRA), the caretaker government has decided not to follow up on the suggestions, opting instead to maintain the current prices of petroleum products.
OGRA recommended an increase in price for high-speed diesel by Rs 2 per liter, petrol by Rs 2.50 per liter, kerosene by Rs 5 per liter and light diesel oil by Rs 6 per liter for the month of August. However, the caretaker setup decided not to implement the increase in prices for the relief of the public. Therefore the prices would remain unchanged at Rs 95.24 per liter for petrol, Rs 112.94 per liter for high-speed diesel, Rs 75.37 for light diesel oil and Rs 83.96 per liter for kerosene.
Prior to this, the government increased the prices of Petroleum products on July 1. Petrol was increased by Rs 7.54 per liter, diesel by Rs 14 per liter and kerosene by Rs 3.36 per liter. However, the prices of all the petroleum products were reduced by up to Rs 6.37 per liter when the Supreme Court took notice of the heavy taxes on the sale of petroleum products.
It remains to be seen whether the public will face another surge in the price of fuels in the coming months.