ISLAMABAD - Oil and gas Regulatory Authority (Ogra) in its summary sent to government has recommended decreasing prices of petroleum oil and lubricant products (POL) up to Rs4.89/liter for the upcoming month of May.
Sources well aware of the development informed TheNation on Friday that regulatory authority has sent its summary to the federal government. In accordance with the Ogra’s recommendations, as average price of crude oil during the month of April witnessed a decline in the international market by $3 and have decreased at $121 per barrel so the government should trim down the price of Petrol by Rs1, High Octane Blended Component (HOBC) Rs4.89, light diesel oil (LDO) Rs1.64, high speed diesel oil Rs1.31, and Rs2.13 per litre in the price of Kerosene oil for next month.
Sources have further told that cash starved coalition government is deeply mulling to increase the ratio of Petroleum Levy (PL). They were of the opinion that if the beleaguered government does not increase the PL then the new price of Petrol (Gasoline) will be Rs102.36, HOBC Rs130.92, Kerosene Rs97.82 and HSD Rs105.69 per litre while the new price of LDO will be Rs97.10 per liter in the country during the month of May. Further, Ogra has decreased the transportation cost of POL products from seven to 42 paisa per liter.
It is to be noted here that federal government after getting thorough review on Ogra’s summary will announce the new prices of POL products on 30th April for the next month of May.