Web Desk (LTN NEWS): After Prime Minister Shehbaz Sharif comes back to Pakistan from Uzbekistan today (Saturday), the government is likely to announce new prices for petroleum products.
Every two weeks, Pakistan looks at the prices of oil products.
Sources say that the Prime Minister’s Office told the Finance Ministry that the POL prices have been announced.
Sources also said that the Oil and Gas Regulatory Authority (OGRA) hasn’t asked the finance division to lower the prices of gasoline and diesel in the summary it sent. Instead, POL prices are likely to go up a little.
A final decision on the POL prices is expected to be made today, according to sources.
Sources say that because the announcement was late, gas stations have stopped buying oil, which could cause a shortage.
Earlier, it was said that the price of a litre of petrol would drop by Rs9.62 per litre over the next two weeks, from Rs235.98 to Rs226.36.
But the price of diesel is expected to go up by Rs3.04 per litre, from Rs247.26 per litre to Rs250.30, over the same time period.
Sources say that because of these rumours, gas station owners have stopped buying fuel.
We heard that the price of gasoline hasn’t changed yet because Prime Minister Shehbaz Sharif hasn’t given his orders.
According to people who know about the situation, the prime minister has the power to change the prices of petroleum products.
But PM Shehbaz was at the Council of Heads of State (CHS) summit of the Shanghai Cooperation Organization (SCO), where he met with Vladimir Putin of Russia, Recep Tayyip Erdogan of Turkey, and others.
“The Finance Ministry is waiting to hear from the Prime Minister. Only after the prime minister decides what to do with the summary sent to him will the new prices be made public “sources told.
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