OGRA proposes Rs20.6 cut in petrol price

Price of HSD, kerosene and LDO likely to fall by Rs33.94, Rs44.07 and Rs24.57 per litre

ISLAMABAD: In wake of the recent plunge in global oil market and keeping in view the commodity’s low demand amid coronavirus outbreak, the Oil and Gas Regulatory Authority (OGRA) on Wednesday recommended a massive cut in the price of petroleum products for the month of May.

In a summary sent to the Ministry of Petroleum, the regulatory body has recommended a Rs20.68 per litre decrease in petrol price, Rs33.94 per litre reduction in high speed diesel, Rs44.07 fall in kerosene oil and a Rs24.57 cut in the price of light diesel oil.

The petroleum ministry would forward a summary to the Ministry of Finance, which would announce the reduced rates after getting a green signal from Prime Minister Imran Khan.

It is worth mentioning that the government was charging 17pc general sales tax (GST) on all petroleum products. Besides, the government was also collecting Rs24.20 per litre petroleum levy (PL) on HSD, Rs18.90 on petrol, Rs6 on kerosene and Rs3 on LDO.

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