ISLAMABAD: Federal government has decided to keep the prices of petroleum products unchanged till June 30 by slightly change ex-refinery prices and margins to oil companies ahead of Eid-ul-Adha.

In a TV statement on Thursday, Finance Minister Ishaq Dar announced that prices of petrol and high speed diesel (HSD) will remain unchanged for the next fortnight.

Ishaq Dar said that global oil prices rose slightly in last fortnight (June 1 to June 15), therefore, the government decided to maintain the prices at current level.

The prices of petrol and high-speed diesel are Rs262 and Rs253 per litre, respectively. In two rounds, from May 16 to June 1, the price of diesel was reduced by Rs35 per litre while petrol rate fell by Rs20, he said.

The finance minister refuted reports of an expected increase of Rs3.5 per litre in HSD. On Wednesday, the oil marketing companies estimated that the price of motor spirit (MS) would likely to decline by Rs1.90 per litre and HSD price might increase by Rs3.50 per litre, effective from June 16.

The government is charging Rs50 per litre PL on petrol and HSD but zero rate of GST.

Copyright Business Recorder, 2023