OGRA has prepared a summary of reduction in prices of petroleum products from October 1

OGRA has prepared a summary of reduction in prices of petroleum products from October 1

Prices of petroleum products are likely to be reduced by Rs 3-4 per liter. After the approval of the Prime Minister, the Finance Ministry will announce tomorrow whether to reduce or maintain the prices of petroleum products.

ISLAMABAD: OGRA has prepared a summary of reduction in prices of petroleum products from October 1. Prices of petroleum products are likely to be reduced by Rs 3-4 per liter. According to sources, working on prices of petroleum products has been prepared.

Whether the prices of petroleum products will be reduced from October 1 or not will be announced tomorrow. OGRA has sent recommendations to the Ministry of Petroleum for reduction in petrol and diesel prices. On October 1, OGRA has proposed a reduction of Rs 2 per liter in petrol and diesel prices from the government. OGRA said in its summary that crude oil prices have declined in the global market.

In view of this, it has been proposed to reduce the prices of petroleum products by Rs. 3 to 4 per liter. The summary also suggested that prices could be maintained by raising the rate of petroleum levy. It was informed that the final decision to reduce or maintain the prices of petroleum products would be taken in consultation with Prime Minister Imran Khan. Following the directive of the Prime Minister, the Ministry of Finance will announce the prices of petroleum products.

On the other hand, despite the increase in petrol imports, petrol consumption declined by 6 per cent during August last year, while diesel consumption also fell by 27 per cent. According to industry sources, petrol consumption fell by 6% to more than 710,000 tonnes last month, compared to more than 757,000 tonnes in July. According to industry sources, petrol consumption in the transport sector declined in August due to torrential rains in most parts of the country, including Karachi.

Last month, diesel consumption fell by 27% to more than 524,000 tonnes, compared to around 714,000 tonnes in July. Consumption of furnace oil rose marginally to 327,000 tonnes in August, jet fuel One and AT consumed in aircraft decreased by 11% to more than 30,000 tonnes, while jet fuel consumption in July exceeded 34,000 tonnes Was recorded. Kerosene consumption rose 48% to 7,300 tonnes last month from 4,944 tonnes in July. Consumption of light diesel oil declined by 5% to 1429 tonnes in August, high octane consumption continued to increase and about 14,000 tonnes of high octane was used in August, up 57%.