OGRA proposes up to Rs3.23 per litre cut in POL prices
The Oil and Gas Regulatory Authority (OGRA) has proposed a cut in the prices of petroleum products. By up to Rs 3.23 under the monthly fuel price adjustment mechanism.
The authority has recommended that the prices of petrol may be reduced. By Rs 2.55 per litre and high-speed diesel (HSD) by Rs3.23 per litre. It has also recommended Rs2.55 per litre reduction in the price of light diesel oil (LDO). However, OGRA suggested Rs1.19 per litre hike in the price of kerosene oil.OGRA has forwarded a summary to the Petroleum Division in this regard.If the government accepts the recommendation, the price of petrol would go down from the existing Rs113.24 per litre to Rs110.69, HSD from Rs127.14 per litre to Rs123.91, LDO from Rs91.89 per litre to Rs89.48 per litre, whereas the price of kerosene oil would increase from Rs99.57 to Rs100.76 per litre.The government would take a final decision on OGRA’s recommendation on 29th September (Sunday). The regulatory authority recommended a decrease in petroleum prices by calculating them at 17 per cent general sales tax (GST).The new prices would be applicable from October 1st.