Staff Report
ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has notified reduction in prices of Liquefied Petroleum Gas (LPG) for the month of May.
According to a notification issued by the OGRA, the LPG price was reduced by Rs12.38 per kilogram, with 11.8 kilograms of household cylinders witnessing a reduction in price by Rs146.19. The new prices for the LPG would come into effect from May 2021. The new price of the household cylinder stands at Rs1572.40 as compared to its price of Rs 1718.59 in April.
The reduction in LPG prices came after the Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division seeking upward revision of fuel prices for the next fifteen days starting May 1 (Saturday).
Reports said the regulatory authority has recommended an Rs5.75 increase in per litre price of petrol while an Rs6 increase in that of diesel. The OGRA recommended the increase in the prices of petrol and diesel on the basis of the current petroleum levy. The current levy on petrol is Rs11.23 while that on diesel Rs15.29.
The new prices of petroleum products are likely to be announced later on Friday following the approval of Prime Minister Imran Khan.
