National oil and gas regulatory authority sends a summary on Wednesday for the reduction in the prices of petroleum products to PM office. While sources says that Prime minister is going to approve this summary and it will be a gift for the labours on Labour Day.
In this summary OGRA recommends to lower the price of petrol by 1 rupee after which the per liter price of the most useable petroleum product will be RS 73.29 per liter. While the price of HSD will face a decline of RS 1.06 per liter which will make its price RS 82.55 per liter. It should be kept in mind that this product is directly being used in agriculture and this price fall down will directly affect the prices of commodities in Pakistan.
However, Oil and gas regulatory authority suggests to higher the prices of kerosene oil by Rs 2.11 per liter which will makes its per liter price RS 63.55. As this oil is mostly being used in kitchen stoves in remote areas so it will have a bad effect on the commoners of northern areas of Pakistan.
Authority is also making tough to drive luxury cars as it recommends to higher the prices of HOBC by 9.43 per liter which will shoot up the price of high octane blending component up to RS 89.74 per liter. These new petroleum prices will be implemented on 01/05/2015 at 12 AM in all over the country at once.
Analysts are thinking that Government is going to lower the prices of petroleum products due to the public pressure which they are facing from last month, As India has lowered the prices of petroleum products twice in a month but Nawaz Sharif Government was unable to do so that’s why they are doing such reduction in prices to keep a balance of prices in the region.