ISLAMABAD:
The Oil and Gas Regulatory Authority (Ogra) has recommended a reduction
in prices of POL products by up to Rs5.61 per litre from April 1, 2014,
in what may be a major relief for the people.
The prices of POL products have tumbled in the international market and on top of that the US dollar has also depreciated by 7-8 percent. The impact of both the factors will be translated into relief in prices of petroleum products that will also help scale down inflation in the country.
Ogra, the regulator, has sent its summary to the government with recommendations to bring down the petroleum products prices by Rs5.61 per litre.In the summary sent to the Ministry of Petroleum and Natural Resources, a copy of which is available with The News, Ogra has proposed a reduction in the price of petrol by Rs1.72 per litre, HOBC (high octane blending component) by Rs4.66 per litre, LDO (light diesel oil) Rs5.16 per litre and High Speed Diesel (HSD) by Rs2.16 per litre. Also, Ogra has recommended reduction in the prices of kerosene oil by Rs5.61 per litre.
Ogra has worked out the reduction in the prices of HSD by Rs2.16 per litre by including Re0.18 per litre, which the ECC has approved as the crude transportation cost of HSD to the Pak-Arab Refinery Company (Parco).
In case the Finance Ministry honours the recommendations of Ogra, the new prices of petrol will stand at Rs108.31 per litre from April 1, HOBC Rs136.57 per litre, kerosene oil Rs101.15 per litre, HSD Rs113.85 per litre and LDO Rs95.06 per litre.
The government is under pressure to ensure relief to the masses because of reduction in oil prices in the global market and depreciation of dollar against the Pakistani Rupee and to this effect Finance Minister Senator Ishaq Dar has time and again promised that relief will be passed on to the people.
The prices of POL products have tumbled in the international market and on top of that the US dollar has also depreciated by 7-8 percent. The impact of both the factors will be translated into relief in prices of petroleum products that will also help scale down inflation in the country.
Ogra, the regulator, has sent its summary to the government with recommendations to bring down the petroleum products prices by Rs5.61 per litre.In the summary sent to the Ministry of Petroleum and Natural Resources, a copy of which is available with The News, Ogra has proposed a reduction in the price of petrol by Rs1.72 per litre, HOBC (high octane blending component) by Rs4.66 per litre, LDO (light diesel oil) Rs5.16 per litre and High Speed Diesel (HSD) by Rs2.16 per litre. Also, Ogra has recommended reduction in the prices of kerosene oil by Rs5.61 per litre.
Ogra has worked out the reduction in the prices of HSD by Rs2.16 per litre by including Re0.18 per litre, which the ECC has approved as the crude transportation cost of HSD to the Pak-Arab Refinery Company (Parco).
In case the Finance Ministry honours the recommendations of Ogra, the new prices of petrol will stand at Rs108.31 per litre from April 1, HOBC Rs136.57 per litre, kerosene oil Rs101.15 per litre, HSD Rs113.85 per litre and LDO Rs95.06 per litre.
The government is under pressure to ensure relief to the masses because of reduction in oil prices in the global market and depreciation of dollar against the Pakistani Rupee and to this effect Finance Minister Senator Ishaq Dar has time and again promised that relief will be passed on to the people.
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