The Oil and Gas Regulatory Authority has proposed a meagre reduction in the price of petroleum products and kerosene oil for February despite a 15% drop in the price of crude oil in the international market.
According to the rates recommended in a summary sent by Ogra to the federal government, the price of petrol and kerosene oil may decrease by 6 paisa and 66 paisa per litre respectively.
This means the price of petrol is expected to go down by 0.1% in Pakistan as compared to the 15% drop internationally.
It has also recommended an increase in the price of high-speed diesel by Rs2.47 per litre and light diesel by Rs1.10 per litre.
The new pricing of petroleum products will be effective from February 1 after approval from the Ministry of Finance.