Up to Rs14.83/ltr Cut in Petroleum Prices Proposed

Petroleum Prices

Following Samaa TV’s ‘high-octane’ campaign against the petroleum prices, that have been on fire since a while now, Oil & Gas Regulatory Authority (OGRA) has been forced to consider a relief to the tune of up to Rs14.83/liter, news reported.

A summary to this effect has been duly forwarded to the government.

According to sources, High Octane Blending Component (HOBC) is likely to see the biggest reduction in its price, which will come down by Rs9.93 a liter if the said summary gets the government nod.

On the other hand OGRA has recommended that per liter price of petrol be slashed by Rs9.93, light diesel Rs8.4, high speed diesel Rs7.11, and kerosene oil by Rs8.16.

Moreover, Ogra has also proposed an up to 10 percent decrease in the price of furnace oil.

The new prices, if approved, will take effect from November 1, 2014. Further details are awaited.