OGRA or Oil and Gas Regulatory Authority proposed the decline in the Petrol price in Pakistan around Rs 5-10.
Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Ministry of Energy recommending a reduction of Rs 5-10 in Petrol price in Pakistan.
The petrol price can be slightly decreased as OGRA sent a summary to the federal government. The decline of 5-10 Rs per liter is expected in the petrol and kerosene oil. Brent crude, on the other hand, fell slightly to 0.17%, trading at 36.18. US West Texas Intermediate crude futures also fell about 0.35% to 0.3 34.23 per barrel.
Outbreaks appear to be exacerbated in recent months by rising crude oil prices and demand for oil. However, with the end of global lockdowns and the gradual reopening of global economies, oil prices are likely to rise.
New petrol price will be effective as soon as the Ministry of Finance gives the approval.