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New Year’s gift for people: OGRA recommends up to Rs15/litre cut in oil prices

ISLAMAABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended a cut of up to by Rs15 per litre in the petroleum products’ prices.

The regulatory authority on Friday sent a summary to the Finance Ministry proposing changes in the prices of petroleum products’ prices.

The authority has proposed a cut of Rs9 per litre in the price of petrol while it recommend a reduction of Rs15 per litre in the price of High Speed Diesel.

A cut of 25 paisas has been recommended in the price of kerosene oil and Rs2 per litre reduction has been proposed in Light Diesel’s price.

Read More: NEPRA approves cut in power tariff by 31 paisas/unit

The summary has been sent to Finance Ministry which will notify the new prices after approval from the Prime Minister.

The new prices if allowed by the Prime Minister will be applicable from January 1, 2019.

The OGRA propose changes in the prices of petroleum products every month based on prevailing oil prices in the international market.