OGRA recommends cuts in POL prices

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The Oil and Gas Regulatory Authority (OGRA) on Wednesday recommended reduction in the prices of petroleum products from June 1. A summary for the reduction has been sent to the Ministry of Petroleum and Natural Resources. OGRA’s summary proposed petrol be slashed by Rs 4.91 per litre, high-speed diesel by Rs 5.64, kerosene oil by Rs 6.88, light diesel by Rs 5.84 and the price of hi-octane be cut by Rs 13.24 per litre. An announcement is expected to be made tomorrow (Thursday) following the approval of the summary by the Finance Ministry.