The Oil and Gas Regulatory Authority (OGRA), in its summary sent to the Petroleum Ministry, has recommended a decrease in petroleum prices from 1st December 2019.
According to the details, the authority has proposed a reduction in the prices of petroleum products that includes a decrease of Rs.0.25 per litre in the price of petrol. Also, the price of diesel is recommended to be dropped by Rs.2.40 per litre from the start of the next month. Other petroleum products include light diesel oil and kerosene oil for which a decrease of Rs.2.90 per litre and Rs.0.83 per litre respectively, is proposed by the Oil and Gas Regulatory Authority (OGRA). If the Petroleum Ministry approves the above-mentioned recommendation, the new prices of petroleum products will be as under:
Petrol: Rs.113.99 per litre
Diesel: Rs.125.01 per litre
Light-speed Diesel: Rs.82.43 per litre
Kerosene oil: Rs.96.35 per litre
It is worthy to mention here that previously upon the proposal of OGRA, the government increased the prices of petrol and diesel last month by Rs.1 per litre and Rs.0.27 per litre respectively whereas the prices of light-speed diesel and kerosene oil were reduced by Rs.6.56 per litre and Rs.2.39 per litre respectively. At the moment, petrol is priced at Rs.114.24 per litre and the complete list of the current prices of petroleum products are given below:
Petrol: Rs.114.24 per litre
Diesel: Rs.127.41 per litre
Light-speed Diesel: Rs.85.33 per litre
Kerosene oil: Rs.97.18 per litre
The general public certainly seeks a much more decrease in petroleum prices to get some relief in the current economic slowdown. So, it will be interesting to see if the government approves the price drop in petroleum prices this time around. What are your thoughts on this recommendation by OGRA? Let us know with your feedback and stay tuned to PakWheels for any further development in this story.