POL prices likely to be cut by up to Rs 17 per litre

The Oil and Gas Regulatory Authority (OGRA) has worked out up to Rs 17 per litre decrease in the prices of petroleum products (POL) which will come into effect with the start of new year.

According to a senior official of the petroleum and natural resources ministry, the OGRA has prepared a summary of POL prices for January which has been dispatched to the petroleum ministry for approval on Tuesday.

The new prices of petroleum products would be made effective in the country after getting the final nod of premier while a notification regarding future prices of POL products will be issued today (Wednesday).

Under the proposed cut in per litre prices of POL products, petrol is to go down by Rs 6.56, high speed diesel (HSD) Rs 9.91, high octane blended component (HOBC) Rs 17.61, kerosene oil Rs 13.23, and light diesel oil (LDO) Rs 12.56 with start of next month.