The Oil and Gas Regulatory Authority (OGRA) has sent summary to the federal government to recommend modifications in petroleum products’ prices for the month of February 2020.
The regulatory authority has sent recommendations and moved its working paper to the Ministry of Energy (Petroleum Division), which would later be sent to the finance ministry for approval.
Petrol and kerosene oil prices likely to be reduced by 6 paisas and 66 paisas, respectively, according to the proposed summary.
However, OGRA has suggested a surge in the prices of high-speed diesel and light diesel oil by Rs2.47 and Rs1.10, respectively.
“The federal government will take a decision on the summary tomorrow (Friday),” the official said.
“The new prices of petroleum products, if agreed, would come into effect from the 1st February 2020,” the official added.
It is worth noting here if the government accepts OGRA’s recommendations, the price of petrol would witness a nominal decrease from Rs116.60 per litre to Rs116.54 per litre, while that of kerosene would be reduced from Rs99.45 per litre to Rs98.79 per liter.