Govt not to increase petrol price in May: Finance Ministry

In a bid to give relief to the masses in the holy month of Ramadan, Prime Minister Imran Khan on Friday decided not to increase the price of petroleum products for the month of May, a statement issued by the ministry of finance said. 

Therefore, petrol will continue to cost Rs108.56 per litre.

According to the notification, the price of diesel will also remain the same, at Rs110.76 per litre.

Kerosene oil will continue to be priced at Rs80, whereas light diesel oil will also cost the same, at Rs77.65 per litre.

After the Oil and Regulatory Authority had forwarded a summary to the Petroleum Division it was speculated that the prices of petroleum products will witness a rise in May.

Sources told Geo News the price of petrol may increase by Rs5.75 per litre while the price of diesel may go up by Rs6 per litre.

OGRA's recommended prices in its proposal were calculated keeping in mind the current petroleum levy rate, said the sources.

The current levy on petrol is Rs11.23 per litre while on diesel, it is Rs15.29 per litre.

However, the prime minister, in order to provide relief to citizens, decided against a rise in the prices this month.