Oil and Gas Regulatory Authority (OGRA) on Friday recommended the Finance Ministry to cut petroleum products’ prices by at least Rs 7.5 per litre starting from September 01.
The department dispatched a summary regarding reduction in petroleum products’ prices to the Finance Ministry following steep fall in the international oil prices.
The summary recommends a price cut of at least Rs 6.15 in petrol prices from the start of September. Petrol’s current price is Rs 76.76 per litre. The recommended price cut will result in price at Rs 70.61 per litre. High speed diesel price is recommended to be reduced by Rs 7.50 while light speed diesel by Rs 6.50 per litre.
The ministry has also been asked to reduce prices of kerosene oil and high octane by Rs 7.10 per litre and Rs 7.20 per litre redspectively.
