The Petrol Prices in Pakistan will remain unchanged from 16 May 2022 on the directives of Prime Minister Shehbaz Sharif, who rejected the summary presented by the Oil and Gas Regulatory Authority (OGRA), said Finance Minister Miftah Ismail during a press conference on Sunday.
According to the announcement, Petrol Price in Pakistan will remain unchanged at Rs. 149.86 per litre, while the Price of High-Speed Diesel (HSD) in Pakistan will also remain at the current rate of Rs. 144.15 per litre. Meanwhile, the Price of Kerosene Oil will remain at Rs. 125.56 per litre, while the Price of Light Diesel Oil (LDO) will remain at Rs. 118.31 per litre.
Petrol Prices in Pakistan From 16 May 2022
CURRENT PRICE (PKR)
NEW PRICE (PKR)
High Speed Diesel (HSD)
Light Diesel Oil (LDO)
However, the Finance Minister later Tweeted that is not increasing the Petrol Prices in Pakistan from 16 May 2022, but the Government may revisit the decision soon due to the changing circumstances and international oil prices. It means that public should be prepared for an unexpected hike in the price of these commodities.
Let me amplify what I just said in my presser. The government will not raise POL prices today. But due to changing circumstances and international oil prices, we may have to revisit our decision soon.— Miftah Ismail (@MiftahIsmail) May 15, 2022
Speaking about the devaluation of Pakistani Rupee against the US Dollar, the Finance Minister said that the Dollar was at Rs. 115 during PML-N’s previous tenure, but it surged to Rs. 189 during PTI Government’s tenure. “The PTI-led government brought the country to the brink of economic disaster,” he said, adding that current coalition government is trying to mend the situation.
During the press conference today, Finance Minister, Miftah Ismail, said that Prime Minister Shehbaz Sharif has rejected the summary and decided not to increase the Petrol Prices in Pakistan from 16 May 2022 in order to spare the public from any further burden.
Read more: Dollar rate in Pakistan – Daily Updates.