The Oil and Gas Regulatory Authority (Ogra) on Tuesday recommended the government to reduce prices of all petroleum products for the month of June 2017. In the working paper sent to the government, the authority has recommended a reduction of Rs 2.30 per litre in the prices of motor spirit (petrol), which is widely used in cars and motorcycles. Similarly, the Ogra has also proposed a reduction of Rs 3.20 per litre in the prices of high speed diesel (HSD), mostly used in mass transportation and agriculture. Likewise, Rs 13.60 increase in the price of kerosene oil and Rs 9.50 increase in the price of light diesel oil (LDO) have also been recommended.
According to the summary moved to the Ministry of Petroleum and Natural Resources and Ministry of Finance, a reduction of Rs 2.30 per litre has been recommended in the price of petrol and if approved, the price of petrol will come down to Rs 71.70 per litre from the current price of Rs 74 per litre. After the proposed reduction in the price of the high speed diesel, its price will also come down to Rs 79.80 from the current price of Rs 83.00 per litre.
The price of kerosene after the proposed increase of Rs 13.60 will go up to Rs 57.60 per litre from the existing Rs 44 per litre and with the increase of Rs 9.50 per litre, the price of LDO will go up from the existing Rs 44 to Rs 53.50. However, the final decision regarding the prices of petroleum products will be taken on Wednesday (today).
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