No change in petroleum prices for May: Dar.
ISLAMABAD -- Federal Finance Minister Senator Ishaq Dar on Sunday stated that prices of petroleum products for the month of May shall be maintained at the level of April 2017.
In a statement, he said, 'No change in prices of any petroleum product is being made for the month of May.'
Announcing the prices of petroleum products for the period starting from May 1, 2017 until midnight on May 31, 2017, the Finance Minister said that, 'Petrol would be sold for Rs 74 per liter, Diesel for Rs 83 per liter whereas Kerosene and Light Diesel Oil (LDO) will be sold for Rs 44 per liter.'
He said, 'The Ministry of Petroleum and Natural Resources and Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs 15.19 per litre in the price of Kerosene Oil, increase of Rs 10.65 per litre in the price of Light Diesel Oil (LDO), decrease of Rs. 1.20 per litre in the price of MS 92 RON Petrol, and decrease of Rs 1.10 per litre in the price of High Speed Diesel (HSD), with effect from May 1, 2017.'
The Minister stated that, 'In line with Prime Minister Nawaz Sharif's instructions to provide maximum relief to the common man, and keeping in view that Kerosene Oil and LDO is used by the low income segments of the country's population, it has been decided to maintain the prices of Kerosene Oil and LDO at the current level till May 31, 2017.'
'This decision has been taken also keeping in view the fact that Kerosene Oil caters to the energy needs of the poor. In order to maintain the prices of both Kerosene Oil and LDO at current levels, the government will be forgoing all applicable taxes and duties on these petroleum products,' he said. 'In the case of Kerosene Oil, a government subsidy will be provided to maintain the price at the current level. The Minister further announced that the Prime Minister has directed to maintain the prices of MS 92 RON Petrol and HSD at existing levels till May 31, 2017,' he added.