Petrol prices slashed down to Rs99.97: OGRA

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


Web Desk May 31, 2012

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)

abc | 11 years ago | Reply Editor: Your paper seriously needs to improve the standard of its journalism and proofreading. Impose a fine of Rs. 1000 PER mistake on your reporters who submit a piece without doing spellcheck. Please make the following corrections: Para 2: "Petro" should be "petrol" Para 3: "Orgra" should be "''OGRA" Regarding the news, petrol price should be raised to Rs. 125 with a 25 percent infrastructure development tax which should go into research, development of infrastructure to reduce our dependence on imported fuel, and promote development and use of alternative fuels. Pakistan's dependence on imported foreign oil is a national security threat.
Meekal Ahmed | 11 years ago | Reply

@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.

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