Ogra proposes upto Rs2.50 cut in petroleum prices

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended reduction upto Rs2.50 per litre in diesel and Rs1.50 per litre petrol for the coming fortnight.

In this connection, the Ogra had sent a summary to the Petroleum Division.

According to sources, there is a declining trend in crude oil prices in the global market due to which petrol may become cheaper by Rs1.5 per liter from April 1.

They added that the price of diesel could be reduced by up to Rs2.5 per litre.

The sources said that if the government increased the levy, the prices of petroleum products could remain the same, while at present the petroleum levy is Rs11-23 per liter.

A petroleum levy of Rs12.74 per liter is imposed on diesel.

The final decision on the revision in the prices of petroleum products will be taken by the Ministry of Finance in consultation with the prime minister.