The Oil and Gas Regulatory Authority (OGRA) has responded to the reports circulating in local media regarding a possible reduction in the price of petrol.
According to an OGRA spokesperson, all reports regarding petroleum product prices are mere speculations. He added that it’s premature to comment on prices, stating that OGRA will deliberate on petroleum product prices on May 31st.
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Previously, local media, citing reliable sources within OGRA, reported that petroleum product prices may decrease by Rs 4 starting from June 1st. The sources added that following the global reduction in petrol price, government is also expected to decrease the price.
According to the sources, diesel prices are expected to decrease by Rs 3.50 per liter. It should be recalled that on May 15th, the government had announced significant reductions in petroleum product costs, with petrol decreasing by Rs 15.39 and diesel by Rs 7.88.
