ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday proposed bringing down prices of petroleum products for the first half of September.
According to sources, the OGRA has proposed a reduction of Rs3.50 per litre in the price of petrol.
The regulator also proposed reduction of Rs5 per litre in the price of high-speed diesel (HSD), which is mainly used in transport and agriculture sectors. The OGRA has suggested a cut of Rs 2 per litre in the price of light-diesel oil, which is an industrial fuel.
The regulator also proposed a reduction of Rs 3 per litre in the price of kerosene oil.
According to sources, the proposals were prepared in accordance with the existing sales tax and petroleum levy. A change in sales tax and petroleum levy rates could lead to further price changes.
The new prices will be announced on August 31 after the approval of Prime Minister Imran Khan. If reduced, the reduction in prices of petroleum products will be applicable for the next 15 days.
