Pakistan News Service

Friday Nov 24, 2017, Rabi-al-awwal 5, 1439 Hijri
Logo Logo
LATEST :
Pakistan News Home -> Top -> News Details

Ogra to reduce prices of petrol and HSD

30 April, 2015

  Related News  
Census to be held in March next year
100-carat diamond auctioned in New York
  More on this View All

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) recommended on Wednesday reduction in the prices of petrol and high speed diesel (HSD) for May.

In a summary sent to the government, Ogra, however, suggested an increase in the prices of kerosene, light diesel oil (LDO) and high octane blending component (HOBC).

Sources said the ministry of finance would like to maintain the existing petroleum prices to ensure price stability and earn higher revenues as a windfall in view of over 85 per cent share of petrol and diesel in the petroleum consumption.

Ogra worked out the new ex-depot price for motor spirit (petrol) at Rs73.29 per litre with a reduction of Re1 because of its lower price in the international market.

On April 1, the petrol price was increased by Rs4 per litre.

The regulator also calculated HSD price for sale at depots at Rs82.55 per litre with a cut of Rs1.06. HSD price was also hiked by Rs3 per litre on April 1.

The ex-depot price of kerosene was recommended to be raised by Rs2.11 to Rs63.55 per litre, while LDO price was proposed to be increased by Rs3.38 to Rs61.32 per litre.

Ogra suggested raising the HOBC price by Rs4.93 to Rs89.79 per litre. Over the past few months, the government has been changing the rate of general sales tax and petroleum levy to boost revenue collection as international prices maintained a slide.

Apart from Rs6 to Rs14 per litre petroleum levy, the government is charging up to 32 per cent GST on all oil products. At present, the petroleum levy is at its maximum limit permissible under the law.

 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
 
 
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Military Courts
Imran - Qadri long march
 
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
Pakistan itself a victim of state-sponsored terrorism: Qamar Bajwa
Should You Try Napping During the Workday?
Suggested Sites