Petroleum prices to remain unchanged in August

Finance Minister Ishaq Dar says Pakistan is selling gasoline at the lowest price compared to other countries

The prices of petroleum products will remain unchanged for the next month as the federal government has decided to maintain them, Finance Minister Ishaq Dar announced on Saturday.

“Pakistan is selling gasoline at the lowest price compared to other countries,” he said while talking to the media after the policy was announced.

Dar said that the government has tried its best to keep the tax low and sales tax on petroleum products remains almost the same as they were imposed in year 2013.



On Friday, the Oil and Gas Regulatory Authority (Ogra) had worked out an increase of up to Rs3.94 per litre in the prices of petroleum products for the month of August, citing the latest surge in prices of POL products in international markets.

In a summary sent to the government, Ogra reported increase in the international oil prices in July that needed to be passed on to consumers — if taxes were not lowered.