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.
COMMENTS (14)
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@Asif Maalik:
why should the "levy tax" as you call it be "lifted"?
Are you poor?
It is well known that such generalized, open subsidies benefit the rich.
I wish Expess Tribune's headline writers got some lessons in the proper usage of English. The word 'slashed' refers to a drastic reduction. In this particular case there has only been a minor reduction in the price of petrol; the use of the the simple word"reduced" would have sufficed.
What a game being successfully played again and again on poor consumers. Raise price by 10% and then drop it by 1% and the consumers feel they are winners.
Here comes ELECTIONS. Lets pull our lungi and move booty to grab some votes.
Zardari Govt has altleast fascilitated the coming govt by slashing all the subsidies, well nice move by Govt , Justified reduction .
Wow, what a big difference that makes! Had the int'l price of oil RISEN by $10 instead, the increase would be an easy Rs6-7. Talk about double standards
Love the .97 though - idiots could have just made it Rs100 per litre
But levy tax has been introduced so the overall effect is nil
Reduced 3.39 Rs. Now I will invest it in Govt. Securities and will earn high profit returns.. Wohooo I am RICH....!!!!
What a reduction in the fuel price! It does still stand at hundred rupees per liter. One can expect we will be getting petrol at least RS. 110/liter by next month. Until levy tax is not lifted petroleum prices could not be affordable to people.
Election Preparations.
Finally, some respite!!
Nice move by the Government to win some brownie points!
joke of the century!