ISLAMABAD    -   The Oil and Gas Regulatory Authority (Ogra) on Friday proposed to the government a decrease of Rs3.23 per litre in the price of High Speed Diesel and Rs2.55 per litre cut in price of petrol for October 2019.

In a summary moved to the Petroleum Division Ogra has proposed decrease in the price of Petrol, High Speed Diesel (HSD) and Light Diesel Oil(LDO), while increase has been proposed in the price of kerosene oil, it is reliably learnt here.

Ogra has sent the summary to the Ministry of Energy (Petroleum Division) on Friday and that would be then forwarded to the Finance Ministry for approval.

As per the summary Ogra has recommended that prices of High Speed Diesel (HSD) may be reduced by Rs 3.23 per litre (2.5 per cent), petrol by Rs 2.55 per litre ( 2.3 per cent) and Light Diesel Oil (LDO) by Rs 2.41 per liter (2.6 per cent).

However, Ogra has proposed that the price of Super Kerosene Oil (SKO) should be increased by 1.19 per litre (1.2 per cent) for the next month.

If the government approves the Ogra’s recommendation, petrol price will go down from the existing Rs 113.24 per litre to 110.69 per litre, High Speed Diesel (HSD) price will reduce to Rs 123.91 per litre from the current Rs 127.14 per litre and LDO price will reduce to Rs 89.48 per liter from Rs 91.89 per liter.

LDO is mainly used for industrial purposes.

The price of kerosene oil will go up from current Rs 99.57 to Rs 100.76 per litre. Kerosene is used for cooking purpose, especially in remote areas where LPG or pipeline gas is not available.

Ogra has calculated price on the basis of Petroleum Levy of Rs 18 per litre on HSD, Rs 15 per litre on petrol, Rs 6 on kerosene oil and Rs 3 on LDO.

The rate of Petroleum Levy is being advised by Federal government.

The petroleum price determination also includes 17 per cent General Sales Tax (GST).

The Brent oil price in international market on September 27 was $62.22 per barrel while on August 30 it was recorded at $60.14 per barrel and on July 30, it was $64 per barrel

It is pertinent to mention here that for the month of September the price was decreased by RS 4.59 per litre per petrol, Rs 5.33 per litre for HSD, Rs 4.27 per litre Kerosene Oil and RS 5,63 per litre for LDO.