Govt likely to reduce prices of petroleum products

ISLAMABAD:  A price-revision summary was sent to the Petroleum Division,on Friday, suggesting a decrease in the  rates of petroleum products by Oil and Gas Regulatory Authority (OGRA).

As per the summary, the authority has suggested a decrease of Rs 2.90 (3.4 percent) in the per liter price of Light Diesel Oil (LDO), Rs 2.40 per liter (1.9 percent) in High Speed Diesel (HSD), Rs 0.25 per liter (0.2 percent) in Motor Spirit Petrol and Rs 0.83 per liter (0.9 percent) in Kerosene oil, official sources privy to petroleum sector developments told APP.

The authority has recommended reducing LDO per liter price from Rs 85.33 to Rs 82.43, HSD from Rs 127.41 to Rs 125.01, MS Petrol from Rs 114.24 to Rs 113.99 and Kerosene oil from Rs 97.18 to 96.35.

However, the finance ministry will formally notify the revised prices after final approval on November 30, which would be effective from December 1, 2019.