Oil & Gas Regulatory Authority (OGRA) on Friday submitted a summary to the petroleum division recommending that the petrol prices should be decreased by at least Rs9.50 per liter starting from January 1, 2019.
According to OGRA sources, the regulatory authority has forwarded a summary to the petroleum division suggesting a cut of at least Rs9.50 in the oil prices.
The summary also refers to other petroleum products whose prices should be decreased under monthly readjustment formula.
It is recommended that the rate of high speed diesel be decreased by Rs15 per liter and Kerosene oil Rs25 paisa per liter, while the rate of light diesel price proposed to be decreased by Rs2 per liter.
OGRA has submitted details of the proposed summary to the petroleum division and subsequently the decision over new prices will be taken after approval of the prime minister.
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