In order to provide relief to the common man, the Prime Minister has decided to maintain the prices of petroleum products as they were on May 1, 2021, and a fortnight before that, said a press release issued by the Ministry of Finance.
The prices from May 18 onwards will be as follows:
- Ms petrol – Rs 108.56/liter
- High-Speed Diesel – Rs. 110.76/liter
- Superior Kerosene Oil – Rs. 80.00/liter
- Light Diesel Oil – Rs. 77.65/liter
The government has to adjust the Petroleum levy and sales tax as well on SKO and LDO to maintain the same prices. The statement further added that the government will bear a revenue loss of Rs 2.77 billion for maintaining the same prices.
The Oil and Regulatory Authority had proposed increasing petrol by Rs. 1.9 per liter and high-speed diesel by Rs. 3.25 per liter. However, Prime Minister Imran Khan has rejected the summary forwarded by OGRA.