ISLAMABAD - The Oil and Gas Regulatory Authority (Ogra) has dispatched a summary of future prices of petroleum products to the Ministry of Petroleum & Natural Resources (MPNR), which would be effective with the start of next month of November.

Good news for over-burdened masses is that the regulatory authority (Ogra), while asking the government to maintain per litre price of diesel at current level by decreasing the petroleum levy (PL) imposed in the price of high-speed diesel (HSD), has recommended decreasing the price of petrol by Rs2.48/litre for upcoming month.

As per Ogra summary, price of high octane blended component is likely to go down by Rs2.67/litre while kerosene price to go up by 57 paisas and 64 paisa hike in the per litre price of light diesel oil (LDO) from 1st November across the country.

Official sources said that if the finance ministry does not decrease the share of already imposed PL in the per litre price of POL products then price of diesel will go up by 18 paisas per litre while if finance ministry jacks up the share of PL in petrol price then consumers will find only 77 paisas relief in petrol price instead of Rs2.48/litre from November 1. A notification of new oil prices will be issued on Thursday after the approval of finance ministry, they added.  On the other hand, price of LPG has been recommended to be increased by Rs 7 per kg, which means Rs 80 per domestic cylinder of 15kg and Rs 320 per commercial cylinder.