ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Friday recommended a reduction in the fuel prices, with a proposal of a Rs2.55-a-litre cut in petrol.
According to a summary sent to the Petroleum Division, the OGRA suggested to decrease the per-litre prices of petrol, diesel, and light diesel oil to be reduced by Rs2.55, Rs3.23, and Rs2.41, respectively.
Furthermore, the rate of kerosene oil has been proposed to reduce by Rs1.19 per litre.
The prices of petroleum products will be updated from October 1, 2019.
Earlier on August 30, the federal government announced to reduce the price of petrol by Rs4.59 per litre for the month of September.
Special Assistant to Prime Minister on Information and Broadcasting, Dr Firdous Ashiq Awan took to twitter and announced the decision saying, “Following the decrease in petroleum prices in the international market, the govt has decided to give relief to masses by reducing the petroleum product prices from September 1.”
Prices of diesel and petrol were slashed by Rs4.59 and Rs7.67 a litre respectively.
Following the cut in the prices of petroleum products, the new price of petrol and diesel will be now Rs 113.24 and 124.80 respectively.
Meanwhile, the prices of kerosene oil and light diesel saw an increase of Rs4.27 and Rs5.63 per litre respectively. The new price of Kerosene oil will be Rs99.57 a litre while light diesel will be sold at Rs91.89 per litre.
The new prices will take effect from 12:00 am on Saturday (September 1).
Last month, the federal government had increased the price of petrol by Rs5.15 per litre for the month of August.
