The government on Wednesday slashed prices of petroleum products up to Rs 4.80 per litre in line with the reduction in global oil prices effective today (Thursday). The Oil and Gas Regulatory Authority (Ogra) has issued notification in this regard. The spokesman has said that the government cut the prices of motor spirit, HOBC, kerosene oil and Light Diesel Oil (LDO) by Rs 3.63 per litre, Rs 4.80 per litre, Rs 2.73 per litre and Rs 1.99 per litre, respectively.
The Ogra has announced new maximum ex-depot prices of petroleum products that follow as; motor spirit Rs 61.63 per litre, HOBC Rs 75.59 per litre, kerosene oil Rs 57.87 per litre and LDO Rs 54.97 per litre. According to the notification, the prices of JP-1 and JP-4 have been reduced by Rs 2.09 per litre and Rs 1.82 per litre respectively. New prices of JP-1 and JP-8 are Rs 46.03 per litre and Rs 44.24 per litre respectively.
After the reduction, according to the notification, the government will continue charging Rs 10 per litre petroleum levy (PL) on petrol, Rs 14 per litre on HOBC, Rs 6 per litre on kerosene oil and Rs 3 per litre PL on light diesel oil (LDO).
This will be in addition to collection of Rs 8.50 per litre GST on petrol, Rs 10.43 per litre on HOBC, Rs 7.98 per litre on kerosene oil and Rs 7.58 per litre on LDO. During September, the government had raised the prices of petroleum products up to Rs 4.80 per litre in line with increase in global oil prices.
On September 1, government had increased the price of petrol (motor spirit) by Rs 4.80 per litre; HOBC by Rs 3.38 per litre; kerosene oil Rs 2.69 per litre, light diesel oil (LDO) Rs 3.69 per liter; JP-1; 3.74 per litre; and JP-4; 4.10 per litre based on average crude oil price worth $71.23 per barrel in international market during August.
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