Petrol prices slashed down to Rs99.97: OGRA

The new POL prices will be in effect from June 1.

ISLAMABAD: Following a fall in global crude oil rates, the Oil and Gas Regulatory Authority (OGRA) issued a notification for reduced petroleum, oil and lubricants (POL) prices on Thursday, Express News reported.

Petro price was reduced by Rs3.39, bringing it down to Rs99.97. High Octane Blending Component (HOBC) price was cut by Rs10.74, bringing it to Rs125.07. Kerosene oil price stood at Rs94.05 with a Rs5.90 price reduction and light diesel at Rs91.59.

Earlier, Orgra, in its monthly review, proposed reducing petroleum prices by up to 9.7% from June 1, following a fall in global crude oil rates.

In a summary sent to the Finance and Petroleum Ministries on Wednesday, Ogra suggested passing on the reduction in international oil prices to the consumers from June.