Prices Of Petroleum Products Not Increasing Consistently: NA Told

National Assembly on Friday was informed that the oil prices in Pakistan were not being increased consistently rather these were revised upward or downward 17 times from September 2018 to December 2019

ISLAMABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2019 ) :National Assembly on Friday was informed that the oil prices in Pakistan were not being increased consistently rather these were revised upward or downward 17 times from September 2018 to December 2019.

In a written reply to a question posed by MNA Chaudhry Barjees Tahir, Minister for Petroleum Omar Ayub told the lower house that there had not been a substantial decrease in the oil prices in the global, Arab and Gulf markets. In fact, oil prices had been fluctuating upward and downward in the global market.

During the 17 time revision, the prices of various petroleum products were increased only on 6-7 occasions while prices were decreased and maintained on 10-11 occasions, he explained.

"It is not a fact that people were deliberately deprived of the fruits of the decrease. The benefit of the decrease in oil prices was passed on to the public on several occasions," the minister said.