OGRA proposes to decrease the price of petrol

Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to Finance Ministry to decrease the price of petrol by PKR 5.26 per litre; on the other hand, the authority has also urged the ministry to increase the prices of high-speed diesel, light-speed diesel and kerosene oil by PKR 0.65, 0.55 and 0.13 respectively.

It is for the first time in this year that OGRA has proposed actually to decrease the price of petrol. For the past three months, the government has soared the prices of petroleum products, which lead to protests by local commuters, transporters and Islamabad Chambers of Commerce.

Read Also: Here are the new petroleum prices effective from March 2018

The existing prices are as follow:

  • Petrol: PKR 88.07 per litre
  • High-Speed diesel: PKR 98.45 per litre
  • Light-Speed diesel: PKR 65.3 per litre
  • Kerosene oil: PKR 76.46 per litre

If the ministry approves the recommendation made by OGRA then with effect from 1st April 2018, the prices of petroleum products would be changed with the new price of the petrol being set around at PKR 83 per litre. It is highly possible that Finance Ministry might not change the prices as recommended because the price of crude oil globally has been continuously changing.

That’s it from our side, drop your thoughts in the comments section below.

My name is M. Ali Laghari and I love to read and write about Cars.

Notable Replies

  1. Has any of you ever noticed that the petrol Pumps actually charge higher prices than the govt one. Recently i filled my car from Police Welfare petrol pump in Mianwali and Petrol rate mentioned there was @90.5. Usually petrol pumps charge 1-1.5 rupees more than govt rate.

  2. Your city? In punjab side fuel is slightly more expensive due to transportation charges

  3. I live in Islamabad. However i travel a lot (In punjab and KPK) and often find different rates at different fuel stations.

  4. This would probably be due to IFEM (Inland Freight Equilization Margin). The ex-petrol pump prices will vary from ex-depot prices which will also vary from area to area from the govt. announced prices due to IFEM.

  5. aref says:

    What alfa said.
    And also the oil marketing companies have their profit margins as well.

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