Petrol prices to remain unchanged, PM rejects hike

The federal government on Wednesday announced to that petrol prices in the country will remain unchanged for a fortnight, effective from October 1.

According to a notification issued by the Prime Minister Office, Rs2.40 have been decreased on HSD for the next 15 days.

The government switched from monthly to a fortnightly basis, following the demand of the oil industry to rescue them from inventory losses.

The government has decided to maintain the petroleum prices of September for the month of October 2020.

The federal government is also likely to keep gas prices unchanged for domestic consumers and tandoors.

The Petroleum Division has proposed that the Economic Coordination Committee (ECC) should increase the price of gas to be used as feedstock in the fertiliser sector by 14.8%, which will lead to an increase in urea prices by Rs75-100 per bag.

The ECC has been proposed to increase the price of gas used as fuel in the fertiliser sector by 4.4%. The Petroleum Division proposed an increase of 3.9% for commercial consumers.