OGRA has sent a summary to the Ministry of Energy (Petroleum Division) on Friday which recommends a reduction in fuel prices. The summary will be then forwarded to the Finance Ministry for approval.
According to the summary, Ogra has recommended that prices of HSD may be reduced by Rs. 7.23 per liter and petrol by Rs. 5.79 per liter, the sources maintained.
If the government approves the recommendation, the petrol price will go down from the existing Rs. 116.6 per liter to Rs. 110.81 per liter and HSD price will reduce to Rs. 120.03 per liter from the current Rs. 127.26 per liter.
OGRA has calculated the price on the basis of Petroleum Levy of Rs. 18 per liter on the HSD, Rs. 15 per liter on petrol, Rs. 6 on kerosene oil, and Rs. 3 on LDO. The authority’s spokesperson refused to share the recommended prices of petroleum products.