The OGRA has suggested the federal government decrease the prices of oil products by up to Rs 5.61 per litre. In a summary delivered to the ministries of finance, and petroleum and natural resources, the regulatory authority has suggested a cut in the per litre price of petrol of Rs 1.72, high octane blended component (HOBC) Rs 4.66/litre, high speed diesel (HSD) oil Rs 2.90, kerosene oil Rs 5.61/litre, and light diesel oil (LDO) Rs 5.16//litre.
Sources in the Petroleum and Natural Resources Ministry informed this scribe that in its suggested new oil prices OGRA has included total component of petroleum levy (PL) and there is no fear of any hike in the share of PL on POL prices. The public would also find relief in the next month in the form of reduced POL rates, which to a few extent would be the impact of decrease in the price of dollar in comparison to Pak rupee, and a $3 per barrel reduce in the price of crude oil.
The federal government had been thinking about a cut in the prices of oil products for April in the background of appreciating rupee and the general expectation of the people that the advantages of big windfall gains due to less expensive dollar would be passed on to them.