OGRA proposes Rs 7.56 reduction in petrol price
Following 40-50 percent decrease in oil prices on the international level, the government seems hesitant in transferring the benefits to the public. The Oil and Gas Regulatory Authority ( OGRA) on Friday forwarded a summary to finance ministry recommending a reduction of only 10 percent in the prices of petroleum products. OGRA has stated in the summary to decrease petrol by Rs7.56, high speed diesel and high octane by Rs10.15 whereas kerosene by Rs8.17 from February 1. In case the summary is approved by the Prime Minister, light diesel will undergo a price-cut of Rs7.36. On the other hand, a resolution proposing to fix petrol price as Rs40 per liter has been submitted in the Punjab assembly.