Pakistan News

On OGRA’s Recommendation,Government of Pakistan Reduces Petrol and Diesel Prices

Finally,  good news for Pakistan this weekend. In a world of increasing taxes and price hikes, the Oil and Gas Regulatory Authority (OGRA) suggested to decrease petrol and diesel prices and the government has approved the recommendations. OGRA, on Thursday, submitted a summary to the fuel division suggesting that the petrol price should be reduced by Rs. 2 per liter starting from 1st September . The summary further refers to other petroleum products whose prices should be decreased .

OGRA had suggested that prices of diesel should be reduced by Rs. 6 per liter, kerosene by Rs. 0.3 per liter and light diesel oil (LDO) by Rs. 0.7 per liter. Subsequently, after approval from the Prime Minister, the fuel prices were changed ,

New list of petrol prices:

Product

Existing Prices

New Prices

Increase/(-)Decrease

High Speed Diesel (HSD)

112.94

106.57

-6.37 (5.6%)

Petrol (MS 92 RON)

95.24

92.83

-2.41 (2.5%)

Super Kerosene Oil (SKO)

83.96

83.50

-0.46 (0.55%)

Light Diesel Oil (LDO)

75.37

75.96

0.59 (0.78%)

 

The new prices will be applicable September 1st 2018.

Earlier, OGRA recommended government to increase prices last year by a similar margin, hiking high-speed diesel price by Rs 2 per liter, petrol by Rs 2.50 per liter and kerosene by Rs 5 per liter . The caretaker government did not go through with OGRA’s recommendation.

It should be noted that the last major increase was back in July 2018, when the petrol’s price was increased by Rs 7.54 per liter, diesel by Rs 14 per liter, but the Supreme Court took notice of high fuel prices back then, prompting the government of Pakistan not to increase prices any more.

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