The Oil and Gas Regulatory (Ogra) has recommended the government to cut prices of petroleum products up to Rs 7.5 per litre effective from September 1. The regulator following a massive reduction in international crude oil price on Friday sent a summary to the Ministry of Petroleum and Ministry of Finance recommending Rs 7.5 cut in High Speed Diesel (HSD) price, Rs 7.20 per litre in High Octane Blending Component (HOBC), Rs 6.15 in petrol price, Rs 6.50 per litre in Light Diesel Oil (LDO) and Rs 7.10 per litre in Kerosene Oil (KO) prices.
According to sources privy to the fluctuations of the petroleum products prices in international market, average Arab Light crude oil price up to August 27 remained $47 per barrel against $56.57 per barrel as compared with the prices of past month which show a reduction of over 20 percent.
At present different petroleum products are being sold on following prices: HOBC at Rs 82.78 per litre, petrol at Rs 76.76 per litre, HSD at Rs 85.05 per litre LDO at Rs 56.59 per litre and KO at Rs 60.11 per litre. If the government considers Ogra's recommendations, petrol prices come down to Rs 70.61 per litre from Rs 76.76 per litre, HSD to Rs 77.55 per litre, kerosene oil to Rs 50.01 per litre, HOBC to Rs 75.58 per litre and LDO to Rs 50.09 per litre.
Comments
Comments are closed.