OGRA recommends decrease in petroleum prices

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OGRA recommends decrease in petroleum prices

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OGRA has recommended slashing petroleum product prices by Re 0.7 to Rs 5.78.

31 May,2011 06:17 am

According to sources, the Oil and Gas Regulatory Authority (OGRA) has dispatched two proposals to the Petroleum Minister recommending to slash petroleum product prices by Re 0.7 to Rs 5.78 in the first and deregulation of the prices in the second. If the deregulation proposal is accepted, then prices will fall by Re 0.18 to Rs 5.15.Sources said that an increase in the price of Hi-Octane by Rs 22 was also recommended.Final decision will be made by the Petroleum Minister Naveed Qamar today.