The Oil and Gas Regulatory Authority (OGRA) has proposed a reduction in petroleum prices. As a result of fall in global crude oil prices — currently at an eight-month low of around $98 a barrel — domestic price of petrol may be cut by around Rs 10 per litre. According to reports, OGRA wants petrol price cut by Rs 10.24 per litre, High Speed Diesel (HSD) Rs 6.07 per litre, High Octane Blending Component (HOBC) by Rs 11.75 per litre, kerosene oil Rs 5.26 per litre, and Light Diesel Oil (LDO) rate reduced by Rs 5.02 per litre.
The federal government will announce new prices of petroleum products on Friday (today). Meanwhile, the differences between the All Pakistan CNG Association and the government have been resolved, as the government has decided to keep the price of CNG 40 percent less expensive than that of petrol. The decision has been made after successful negotiations held in the last few days between the government and CNG association. The ratio between of prices of CNG and petrol will be maintained for a year. The CNG load shedding duration has also been reduced by two hours.
Petrol prices likely to go down by Rs 10 per litre
