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Ogra recommends Rs 7 cut in petrol prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has forwarded summary for reduction in petroleum products with effect from February 1, 2016.

According to the summary, the OGRA has recommended cut of Rs 7 in petrol price per litre, Rs 11 of High Speed Diesel, and Rs 8 reduction in kerosene oil.

The summary has been sent to the Ministry of Finance and Prime Minister Nawaz Sharif will make final approval about reduction in petrol prices.

Yesterday, Petroleum Minister Shahid Khaqan Abbasi informed the National Assembly Standing Committee on Petroleum and Natural Resources that the price of petrol for next month might be reduced by about Rs5 per litre.

The minister said that the Oil and Gas Regulatory Authority was working on it.

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