OGRA recommends major cut in petroleum prices for May

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From Business Correspondent

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) yesterday put forth a proposal to reduce prices of petroleum products up to Rs44 per litre for the month of May-2020 in the country.

According to the details, OGRA has recommended Rs20.68 per litre cut in the price of petrol, diesel Rs33.94 per litre, light diesel Rs24.57 per litre and kerosene oil by Rs44.07 per litre.

The summary for the revision of petroleum price for the month of May has been sent to the Ministry of Petroleum and after the prime minister’s approval, the new price will be announced for the public. If approved, the new prices will come into effect from May 1. Earlier on Tuesday, Adviser to Prime Minister on Finance Abdul Hafeez Shaikh said that the fuel prices would go down in the country from May 01. He said that the government has planned to unveil next fiscal year’s budget in first week of June and it would be a coronavirus budget.

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