ISLAMABAD: Oil and Gas Regulator Authority (Ogra) has prepared a working paper to reduce the prices for the next 15 days, due to the decrease in the prices of petroleum products in the global market.
Relief can be given to the people in the prices of petroleum products in the country up to 15 rupees per liter. The price of oil in the Brent oil market decreased to $ 76 per barrel, and a decrease in oil prices was recorded in the global market. Petrol price may be reduced by Rs 12 per litre, diesel price may be reduced by Rs 10 while light diesel by Rs 15 and kerosene by Rs 13 per litre.
Read more: Petroleum prices likely to reduce by up to Rs30 per litre from Dec 16
Among other proposals, prices can be maintained by increasing the GST rate, zero GST rate on petrol and diesel, petroleum levy has been increased to the maximum limit of Rs 50 per litre. The summary regarding the prices of Ogra petroleum products has been sent, however, the Finance Ministry will take a decision after the approval of the Prime Minister.
