OGRA recommends modifications in the prices of petroleum products across the country

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OGRA recommends modifications in the prices of petroleum products across the country

ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) recommends modifications in the prices of petroleum products across the country.

OGRA sent a summary to the federal government, recommending modifications in prices of petroleum products for the month of February 2020.

OGRA has recommended a downward revision in the prices of petrol and kerosene oil by 6 paisas and 66 paisas, respectively. However, the authority has suggested an increase in the prices of high-speed diesel and light diesel oil by Rs2.47 and Rs1.10, respectively.

According to an official, OGRA has moved its working paper to the Ministry of Energy (Petroleum Division), which would be forwarded to the finance ministry for approval.

“The government will take a decision on the summary tomorrow (Friday),” the official said. “The new prices of petroleum products, if agreed, would come into effect from the 1st February 2020.”

If the government accepts the regulator’s recommendations, the price of petrol would witness a nominal decrease from Rs116.60 per litre to Rs116.54 per litre, while that of kerosene would witness a reduction from Rs99.45 per litre to Rs98.79 per litre.

Economy