Lahore, 26th August: The government has decided to fix the prices of petroleum products for 15 days.
According to the report of Baaghi TV, the government has decided to fix the prices of petroleum products for 15 days from September 1. The Petroleum Division has issued guidelines to OGRA, Oil Companies Advisory Council.
Petrol and diesel prices will be fixed under the new policy, while prices of other petroleum products will be fixed under the existing procedure. The price of petrol and diesel will be determined by averaging the 14-day average price of crude oil.
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The document states that the PSO will enter into long-term agreements for the purchase of petrol. Taxes on petrol and diesel, levy rates will be as per the prevailing rates, and the cost of importing oil will be included in the next 15 days.
The value of the dollar will be determined according to the provisional price available for the PSO. If the PSO’s oil import costs are not available, the price will be determined at the previous month’s rates.
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The total gas consumption during the current financial year was 3,969 million cubic feet per day while the total supply of natural gas during the same period was 4,319 million cubic feet out of which utility companies supplied 2,379 million cubic feet, Independent System supplied 1,040 million cubic feet and 901 million cubic feet.
During the financial year 2018-19, Sui Northern Gas Pipelines Limited expanded its transmission network to 81 km. While Sui Southern Gas Pipelines Limited added 24 km.
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