ISLAMABAD: Prices of petroleum products are to be maintained at the existing levels for the month of August, the caretaker finance ministry announced Tuesday night via a notification.
The petroleum prices have been retained at current levels in order to provide relief to the common man, the notification mentioned, adding that the Oil and Gas Regulatory Authority (OGRA) had requested bumping up the rates owing to higher costs in the global market.
Accordingly, prices of petrol, diesel, kerosene, and light diesel will remain at per-litre rates of Rs95.24, Rs112.94, Rs83.96, and Rs75.37, respectively.
The notification further added that the general sales tax (GST) had to be slashed in order to maintain the current petroleum prices.
Expanding on the details, it added that the GST on petrol, diesel, kerosene, and light diesel had been cut down from 12 percent to 9.5 percent, 24 percent to 22 percent, 12 percent to 6 percent, and 9 percent to 1 percent, respectively.