(MENAFN- The Peninsula) The federal government opted on Saturday to keep prices of petroleum products unchanged for the month of March, blocking an increase as high as Rs12 per litre proposed by OGRA.
All petroleum products will continue to retail at the same price as in the previous month, said a notification from OGRA.
Prices of petroleum products except diesel were likely to be increased from March 01 after the Oil and Gas Regulatory Authority (OGRA) had suggested a hike in their prices.
OGRA had prepared a summary on the basis of 27 per cent General Sales Tax (GST) and moved it to Ministry for Petroleum.
The regulatory authority had proposed Rs5.59/litre hike for petrol, Rs7.32 for Kerosene oil, Rs12.62 for HOBC, Rs5.50 per litre for Light Diesel, and Rs5.49/litre decrease for Diesel.
However, the government decided against the hike, keeping prices at the same level as February.
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