ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended another big reduction in petroleum prices from January 1, 2015.
According to sources, Ogra recommended deduction of Rs 5 in petrol per litre, Rs 6.50 in high octane prices, followed by diesel Rs 5 per liter and light diesel 4.50 per litre. Besidesreduction of Rs 4 in kerosene oil is also suggested.
The price of oil in the international market has seen a 50 percent decrease since June. It expected that the price of petrol will decrease by Rs 5.15 in January.
Consumers have already benefited from an Rs 19 decrease in the price of the commodity during the months of November and December.
In January the price of diesel is expected to decrease by Rs 5.75 and kerosene oil by Rs 4.
The summary has been sent to the Ministry of Petroleum.
The government is reducing petrol rates in view of decrease in prices of international oil market.
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