Wednesday, October 21, 2020

Petroleum Division recommends to maintain POL products for June

May 30, 2020

ISLAMABAD (92 News) – The Petroleum Division has opposed the summary of the Oil and Gas Regulatory Authority (OGRA) regarding a decrease in the POL products, recommending to maintain the prices. Moreover, the Petroleum Division has proposed to determine the prices of POL products after 15 days. Earlier, the Oil and Gas Regulatory Authority (OGRA) had proposed a Rs7 cut in petrol prices for June. The OGRA had proposed new petroleum prices for the month of June. The oil sector regulator has sent a summary to the government and proposed a Rs7 cut in petrol prices for June. “If it is approved, the new petrol price will be Rs75.54,” it added. Meanwhile, diesel price is likely to go up by 5 paisa to 80.15 rupees per liter whereas petrol price is expected to go down by 7.06 to 74.52 rupees per liter. The OGRA also proposed to reduce the prices of kerosene oil by Rs11.88 and light diesel by Rs9.37. Kerosene and light diesel rates will presumably lower by 11.88 to 35.56 rupees and 9.37 to 38.14 rupees per liter respectively. The new prices will be effective from June 1 following the approval. In the previous month, the Ogra had recommended a cut of Rs20 for May, but the government reduced prices by Rs15 only. The government cut local prices thrice since March 1, resulting in an overall drop of Rs35 per litre to Rs81.58 per litre (official rates). It was able to do so after international crude oil prices crashed.  

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