Ogra suggests cut in petrol, diesel prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday proposed the government to reduce petrol and diesel prices by Re1 a litre each and increase the kerosene price by Rs15 a litre for May 2017.

According to a working paper sent to the Ministry of Petroleum and Natural Resources, the Ogra suggested to reduce petrol and diesel prices by Re1 a litre.

However, the authority suggested increasing the kerosene price by Rs15 and Light Diesel Oil (LDO) by Rs10 a litre. Since February, the government has three times increased the prices of petrol and diesel.

If the government approves the same increase and decrease in prices of various petroleum products, the petrol price will go down to Rs73 a litre from the current Rs74 and diesel to Rs82 a litre from the current Rs83 a litre.

The price of kerosene after an increase of Rs15 will go up to Rs59 a litre from the existing Rs44 a litre and the price of Light Diesel Oil (LDO) will go up with an increase of Rs10 a litre to Rs54 a litre from the existing Rs44 a litre.  The government will announce its decision regarding the Ogra’s recommendation on Sunday.