Impact of rise in intern­ationa­l oil prices not passed on to the people­ISLAMABAD: The government has decided to maintain the prices of petroleum products at the current level during the month of August 2018. Despite Oil and Gas Regulatory Authority’s (OGRA) recommendation to increase the price due to a hike in the international market, the government has decided to keep the rates of petroleum products unchanged. It also raised rates of other petroleum products. However, a week later, the prices were brought down after the Supreme Court took notice of heavy taxes on the sale of petroleum products. On July 7, the federal government reduced prices of petroleum products by up to Rs6.37 per litre in order to provide relief to the general public.

Source: The Express Tribune August 01, 2018 06:45 UTC