ISLAMABAD: Oil & Gas Regulatory Authority (OGRA) on Thursday submitted a summary to the petroleum division recommending that the petrol prices should be decreased by at least Rs2 per liter starting from September 1.
According to Ogra sources, the regulatory authority has forwarded a summary to the petroleum division suggesting a cut of at least Rs2 in the oil prices.
The summary also refers to other petroleum products whose prices should be decreased under monthly readjustment formula.
It is recommended that the rate of diesel be decreased by Rs6 per liter and kerosene oil Rs30 paisa per liter, while the rate of light diesel price proposed to be increased by 70 paisa per liter.
Ogra has submitted details of the proposed summary to the petroleum division and subsequently the decision over new prices will be taken after approval of the prime minister.—NNI