POL prices expected to fall further in June

• OGRA has sent a summary to change POL prices to the Petroleum Division from June 1, under which the regulator has recommended a reduction in the price of petrol by Rs7.6 per liter.

The Oil and Gas Regulatory Authority (OGRA) has proposed further cut in POL prices, it was learned on Friday.

As per details, OGRA has sent a summary to change POL prices to the Petroleum Division from June 1, under which the regulator has recommended a reduction in the price of petrol by Rs7.6 per liter.

Furthermore, a rate cut of Rs11.88 in the price of kerosene has been proposed while an increase of 5 paisas per liter in the price of diesel has been proposed.

OGRA has also recommended a reduction in the price of light diesel oil by Rs9.37 per liter. Meanwhile, the final decision pertaining to the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister.

The consumption of petroleum products in Pakistan has dropped down significantly due to lockdowns imposed by governments in wake of the coronavirus pandemic, meanwhile the fall in oil prices in the global market has also brought down the prices of petroleum products in Pakistan.