OGRA recommendations for rise in petroleum prices rejected
ISLAMABAD: The government on Friday rejected recommendations by the Oil and Gas Regulatory Authority (OGRA) for a raise in prices of petroleum products.
The announcement was made by Minister for Finance Ishaq Dar who said the Prime Minister has decided to maintain prices of all five POL products at the existing level during next month.
OGRA had recommended to increase the price of petroleum products by up to three percent and sent a summary on petroleum tariffs to the government.
According to the recommendations, the per litre cost of petrol was expected to increase by Rs. 0.10 to Rs. 64.37 per litre. It also recommended to increase per litre kerosene price by Rs. 2.71 and the cost of light diesel by Rs. 1.81 per litre.
The regulatory body had also recommended to increase price of high octane fuel by Rs. 3.55 per litre, and to reduce diesel price by Rs. 0.28 per litre.
The summary has been prepared in the wake of the adjustment with existing crude oil prices in the international market.