News
Monday, March 01, 2010
OGRA slashes petroleum prices
ISLAMABAD: The government slashed prices of petroleum products on Sunday, reducing petrol rates by 1 percent to Rs 70.57 per litre from Rs 71.21 and high-speed diesel by 3 percent to Rs 69.89 per litre from Rs 71.86. The reduction in prices was announced at a press conference addressed by Oil and Gas Regulatory Authority (OGRA) Senior Executive Director (Finance) Jawad Naseem. The new prices would come into effect today (Monday). Also, the prices of HOBC was slashed by 1 percent to Rs 86.06 per litre from Rs 86.84, kerosene oil r by 4 percent to Rs 61.50 per litre from Rs 64.06, LDO by 3 percent to Rs 59.47 per litre from Rs 61.07. Naseem said the latest reduction in oil prices had been based on the “import parity price formula” approved by the federal government. He said the revision was prompted by a reduction in Arab-Gulf petroleum product prices over February. ijaz kakakhel
Courtesy www.dailytimes.com.pk