Oil and Gas Regularity Authority (OGRA) sent the summary to government to cut the prices of petroleum products from February 1, 2016
Price of Petrol is going to down the official says that the price will goes down 17 percent of the petrol price which is currently 76.25 Rupees now a days and it is going down 7.56 rupees before 1st of February, 2016.
According to OGRA sources, reduction of Rs 7.56 per liter is expected in petrol price if the government agreed to reduce the additional GST.
Price of high speed diesel is expected to reduce by Rs 11, high octane Rs 10.15 per liter, kerosene oil Rs 8.17 per liter and light diesel price could go down by Rs 7.36 per liter.
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that POL prices will be further reduced from first of February, 2015. Following the notification, The new prices of petroleum are shown as under.
The new prices will be applicable from Feb 1, 2016
Super Petrol
Old Price: 76.25 per litre
New Price: 68.69
High Octane Petrol
Old Price: 80.66 per litre
New Price: 70.51
High Speed Diesel
Old Price: 80.79 per litre
New Price: 69.79
Light Speed Diesel
Old Price: 44.94 per litre
New Price: 37.58
Kerosine Oil
Old Price: 48.25 per litre
New Price: 40.58
The Oil and Gas Regulatory Authority (OGRA) is planning to cut petroleum prices by Rs 8-10 from first February this year following continuous sliding crude oil prices in the international market, especially Saudi Arabia where the crude oil price stood below $22 per barrel.
Petrol and diesel were being sold at Rs 40.39 and Rs 26.21 per litre respectively in January 2005 when the prices of crude oil were around $60-65, the analysts said.
If the government reduces petrol price by Rs 8-10 from February 1, the petrol price will stand at Rs 67-68 per liter in Pakistan. The actual price should be around Rs 40-50 if the Arab crude oil price was below $25 per barrel, the analyst claimed.
