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Summary OGRA has recommended reduction in petroleum levy to keep prices unchanged.
According to Oil and Gas Regulatory Authority (OGRA) sources, OGRA recommended that despite rising prices of petroleum products in the international market the prices should be kept unchanged by reducing petroleum levy on products rather to further increase the prices so that maximum relief can be provided to the price stricken masses in the Holy month of Ramzan.The Oil and Gas Regulatory Authority moved a summary on Monday regarding a revision in oil prices for the next two weeks in this regard; effective from August 1st to the mid of the month.According to the summary submitted to the finance and petroleum ministries, OGRA has worked out an increase of Rs 7.35 per liter in the price of petrol; Rs 7.5 per litre for High Octane Blending Component (HOBC); Rs 4.60 Per litre for kerosene oil; and Rs 4.50 per litre for Light Diesel Oil (LDO).Meanwhile, OGRA has also proposed to increase the price of High Speed Diesel (HSD) by Rs 5.40 per litre.The rate of the levy is currently on petrol stands at Rs10 per litre, high speed Diesel Rs8 per litre, HOBC Rs14 per litre, and kerosene Rs6 per litre.
