The Oil and Gas Regulatory Authority (OGRA) has recommended to the government to reduce petrol price by Rs 1.05 per litre and increase High Speed Diesel (HSD) price by Rs 1.42 per litre, effective December 1, 2015. According to the summary forwarded to the Ministry of Petroleum and the Ministry of Finance, the regulator on the basis of monthly fluctuations in crude oil prices in the international market has recommended the government to increase High Octane Blending Component (HOBC) price by Rs 0.87 per litre.
It recommended the government to reduce Light Diesel Oil (LDO) price by Rs 0.36 per litre and Kerosene Oil (KO) by Rs 0.79 pre litre. Currently, the HOBC stands at Rs 79.79 per litre, petrol at Rs 76.26 per litre, High Speed Diesel at Rs 83.79 per litre, Light Speed Diesel Rs 53.59 per litre and Kerosene Oil at Rs 57.11 per litre. In case the Finance Ministry considers the OGRA recommendations and does not revise GST, from December 1, petrol price will come down to Rs 75.21 per litre, HOBC to Rs 80.66 per litre, HSD 85.21, LDO Rs 53.95 per litre and Kerosene Oil to Rs 56.32 per litre.
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