OGRA proposes to cut petrol prices

Islamabad: Oil and Gas Regulatory Authority (OGRA) Thursday sent a summary to the Government of Pakistan regarding slashing the prices of petroleum products, GNN reported.

According to details, it has been suggested to reduce the price of petrol by Rs5 to Rs10 per liter. Whereas, the reduction of Rs10 per liter is also expected in the price of diesel.

Currently the petrol is being sold at the rate of Rs262 per liter, while the price of per liter diesel is Rs253.

Sources told that summary also stated, if it is needed to increase the levy then the rates can also remain same.

Today, Federal Finance Minister and Senator Ishaq Dar will consult Prime Minister Shehbaz Sharif for final decision which will be announced today at 12:00 midnight. The new prices will be applicable for the next fortnight.

It is pertinent to note that in previous two weeks, the price of crude oil in Brent Oil Market has remained maximum at $76 per barrel which also reduced to minimum at $70.