ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended that petrol prices by up to Rs. 44 per liter for May 2020 as crude oil prices drop in the international market.
The summary by OGRA suggests that petrol price may be reduced by Rs. 20.68 per litre, diesel by Rs 33.94 per litre, kerosene oil by Rs. 44.07 per liter and light speed diesel (LDO) by Rs. 24.57 per litre.
If the recommendation is accepted, petrol prices will come down to Rs. 75.9 per litre, diesel price will be Rs. 73.31 per litre, light speed diesel will be Rs. 62.51 per litre, and kerosene oil will be Rs. 33.25 per litre.
OGRA has moved the summary to the Ministry of Energy (Petroleum Divison) who will forward it to the Finance Ministry for approval and a decision will be taken today.
The regulatory authority has however recommended to increase the petrol levy to Rs. 24.20 per litre on diesel, Rs. 18.9 per litre on petrol, Rs. 6 on kerosene and Rs. 3 on light speed diesel. The government also charges 17% general sales tax (GST) on all petroleum products.