ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) on Friday recommended to the govt for upto 1.4 per cent decrease in the price of Motor Spirit (petrol) and 1.42 per cent increase in the rate of High Speed Diesel, it is reliably learnt here.
The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary, for the price determination of petroleum products for the month of December to Ministry of Petroleum and Natural Resources and Ministry of Finance.
According to the summary, OGRA has recommended to reduce the prices of petrol by 1.4 per cent or Rs 1.05 per litre, kerosene by 1.4 per cent or Rs 0.79 per litre , Light Diesel Oil by 0.7 per cent or Rs 0.36 per litre.
Whereas OGRA has recommended the increase of 1.7 per cent in the price of per litre High Speed Diesel(HSD) and 1.1 per cent or Rs 0.87 hike in the price of HOBC.
In the light of OGRA recommendation the new price of HSD will be Rs 85.21 from the existing Rs 83.79 and the price of HOBC will reach Rs 80.66 from Rs 79.79.
According to the summary the new price of petrol will be reduced to Rs 75.21 from Rs 76.26, kerosene Rs 56.32 from Rs 57.11, LDO Rs 53.23 from Rs 53.59.
The new petroleum prices will be applicable after approval by the Finance Ministry.
The HSD sales across the country are over 600,000 tons a day and of petrol around 420,000 tons.