The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in the price of LPG by Rs 15.27 for May 2022.
ISLAMABAD: According to the OGRA notification, the new price of LPG will be Rs 231.85 per kg from May 1, while the domestic cylinder of 11.8 kg has become cheaper by Rs 180.28.
After reducing the LPG prices, the new price of LPG became Rs 231.85 per kg. The 11.8 kg domestic cylinder of LPG has become cheaper by Rs 180.28.
From May 1, the new price of the domestic cylinder will be Rs 2735.83.
On the other hand, the Ministry of Finance has issued a notification to maintain the prices of petroleum products. According to the notification, the price of petrol has been fixed at Rs 149.86 per litre, high-speed diesel at Rs 144.15 per litre and kerosene at Rs 125.56 per litre.
Besides, the new price of light diesel has been maintained at Rs 118.31 per litre.
According to the notification, the prices will be applicable from May 1 to May 15. Earlier on April 26, it was reported that the decision to immediately increase the prices of petroleum products has been postponed in view of the expected Diesel crisis in the event of an increase in the prices of petroleum products.
Express News quoted sources in the Petroleum Division as saying that rumours of rising Diesel prices had created an artificial shortage and news of higher prices had led to the discovery of Diesel stockpiling which led to the decision to take stern action against the stockists.
While Federal Finance Minister Muftah Ismail said in a statement that the IMF wants to end subsidies on petrol and diesel, the poor must be given targeted subsidies, did not promise the IMF how much to increase the price of petrol, for now. There is no intention of the government to change petrol prices.