Ogra wants cut in petrol, diesel prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended a reduction of Rs3.3 per litre in price of petrol and Rs2.7 a litre in price of diesel for July 2017. The regulator has also suggested increase of Rs11/litre in the price of kerosene oil and seven rupees a litre increase in the price of light diesel oil (LDO).

According to a working paper moved to the Ministry of Petroleum and Natural Resources and the Ministry of Finance, Ogra has proposed to reduce petrol price by 4.53 percent or Rs3.30 per litre and high speed diesel price by 3.32 percent or Rs2.70 per litre. It also recommended an increase of 25 percent or Rs11 per litre in the price of Kerosene oil and 16 percent or Rs7 per litre increase in the price of LDO.

The government will announce its decision regarding the Ogra’s recommendation today (Friday). It is to be noted that for the month of May, Ogra had advised the government to decrease petrol and high speed diesel prices by Rs1 per litre, respectively. However the summary was rejected by the government.