Ogra Recommends Further Cut In POL Prices


Ogra recommends further cut in POL prices

Ogra has recommended Ministry of Petroleum to reduce petrol price by cutting down Rs. 7.6 per litre to provide maximum relief to the public.

ISLAMABAD: (UrduPoint/Pakistan Point News-May 29th, 2020) Oil and Gas Regulatory Authority (OGRA) recommended reducing petroleum prices to the ministry of Petroleum and Finance here on Friday.

The sources said that Ogra forwarded a summary to the ministries of petroleum and finance recommending modification in prices of petroleum products. It recommended that price of petrol per litre should be reduced up to Rs.7.6, kerosine oil up to Rs. 11.88, light diesel up to Rs 9.37.

Besides it, Ogra also said that the price of high-speed diesel would be reduced by Rs. 9.37. There were also reports that the decision was taken amid plummeting oil prices in the international market.

The Federal government had earlier approved up to Rs30 cut in petroleum princes for May as oil prices were on downturn in international market due to coronavirus pandemic.

The price of high speed diesel was cut down by Rs27.15 to Rs80.10 while the government approved reduction of Rs15/litre in price of light speed diesel. The price of Kerosene oil was decreased by Rs. 30.01 to Rs47.44.

Petrol price per litre was cut down by Rs. 15 under the previous notification.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.