Latest News

OGRA proposes reduction in petroleum prices

The Oil and Gas Regulatory Autho­rity (Ogra) on Friday recommended the government to reduce oil price for October 2019 under the monthly price revision.

As per the details, OGRA has sent a summary to the Petroleum division suggesting that the government should reduce the price of petrol by Rs 2.55 per litre.

The summary also proposed a reduction of the price of high-speed-diesel by 3.23 per litre and Rs2.41 per litre for the price of light diesel oil.

However, the oil and gas industry regulator has proposed an increase of Rs1.19 per litre in the price of kerosene oil.

Read More : LPG price hiked up by Rs12 per kg after ban on imports from Iran

Based on OGRA recommendations, if the suggestions are accepted, the price of petrol will come down to Rs 110.69 per litre from Rs113.24 per litre.

Related Post

Similarly, the price of diesel will go down to Rs 127.14 to Rs123.91 per litre whereas light diesel oil’s price will fall down to Rs89.48 per litre from the existing Rs91.89.

Pakistan after the deal with Saudi Arabia has been receiving monthly oil supplies worth $275 million on deferred payments since July 2019. Pakistan will acquire the oil credit facility to the tune of $9.9 billion over the next three years.

It is worth noting here that the government is currently charging 17% general sales tax (GST) on all petroleum products. Besides the 17% GST, the petroleum levy ranging from Rs14 to Rs18 per litre is being charged on petrol and diesel and Rs3-6 per litre on kerosene and light diesel oil.

The recommendations from OGRA came in the consideration of falling oil prices in the international market.

Samra Mazhar

Recent Posts

  • Latest News

#Breaking: Huge explosion heard near Iran’s Natanz nuclear facility

A huge explosion was heard around Badrud, 20 K.M from Iran's Natanz nuclear facility on…

4 hours ago
  • Latest News

Sialkot Incident: Maulana Tariq Jamil urges scholars to play a positive role in preventing extremism

Maulana Tariq Jamil urges scholars to play a positive role in preventing extremism in the…

8 hours ago
  • Entertainment News

The Magic Man by vivo X70 Pro — Bringing Out the Best of Emotions

As a leading technology brand, vivo has strived to offer ground-breaking technology in smartphones that…

8 hours ago
  • Sports News

Pak vs WI: Here are ticket prices for T20I, ODI series

Planning to watch the much-anticipated T20I, ODI series against West Indies in Stadium? Pakistan Cricket…

10 hours ago
  • Latest News

‘Sialkot incident has disgraced this country and Muslim Ummah’, Mufti Taqi Usmani

Leading religious scholar Maulana Taqi Usmani has reacted to the death of a foreign national…

11 hours ago
  • Latest News

Lahore’s smog situation continues to worsen; Once again ranked first in the list of most polluted cities

Lahore's smog situation continues to worsen!The walled city Lahore, home to more than 11 million…

11 hours ago