The Oil and Gas Regulatory Authority (OGRA) has sent summary to the federal government, recommending modifications in prices of petroleum products for the month of February 2020.
According to details, OGRA has sent recommendations and moved its working paper to the Ministry of Energy (Petroleum Division), which would be forwarded to the finance ministry for approval.
As per the summary petrol and kerosene oil prices likely to be reduced by 6 paisas and 66 paisas, respectively.
However, the authority has suggested an increase in the prices of high-speed diesel and light diesel oil by Rs2.47 and Rs1.10, respectively.
The official stated “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 to be noted that if the government accepts the regulator’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 witness a reduction from Rs99.45 per litre to Rs98.79 per liter.