Tuesday November 30, 2021

Ogra suggests Rs1.15/litre cut in petrol, Rs2 in diesel prices

September 30, 2020

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has suggested to the government to cut the prices of petrol by Rs1.15/litre and diesel by Rs2/litre for the first half of October 2020.

The regulatory body has, however, suggested that the price of light diesel oil (LDO) and Kerosene oil should remain unchanged.

The current price of petrol stands at Rs103.97 per litre, diesel Rs106.46, Kerosene 65.29 and LDO Rs62.86/litre.

If the government accepts the suggestion of the authority, petrol price will come down to Rs102.82/litre and diesel to Rs104.46/ litre from October 1 to 15.

It is worth mentioning that the government is charging 17% general sales tax (GST) on all petroleum products.

Apart from it, the government is also collecting petroleum levy (PL) on these products, which is directly taken from consumers.

Ogra has moved the summary to the Ministry of Energy (Petroleum Division) and it will then be forwarded this document to the Finance Ministry for approval. The government will take the final decision today (Wednesday) after the finance division consult with the prime minister.