September might bring a relief for consumers in terms of price reduction in oil prices. Following a downtrend in global crude prices, Oil and Gas Regulatory Authority has recommended a 6% reduction in petroleum prices for the month of September.
According to a summary prepared by OGRA a decrease of Rs 4.59 per litre in the price of petrol, Rs 7.67 per litre for high-speed diesel, Rs 4.27 for kerosene oil and Rs 5.63 for light diesel oil has been calculated and has been recommended to the federal government.
If the recommendation is accepted, the price of petrol will go down from Rs 117.83 to Rs 113.24 per litre reflecting a drop of 3.9%.
Similarly following the proposed decline of Rs 7.67 in the price of high-speed diesel will bring down its price from Rs 132.47 to Rs 124.80 per litre whereas light diesel will fall to Rs 91.89 per litre from the Rs 97.52. The price of kerosene oil is expected to fall by Rs 5.63 to Rs 91.89 per litre.