ISLAMABAD – Oil and Gas Regulatory Authority (OGRA) has finalized a summary for revising the frequency of the revision of petroleum products’ prices for the month of September onwards, recommending a change every 0.70 months (21 days) in the price per liter.
The summary has been forwarded to the Ministry of Petroleum and Ministry of Finance for the approval.
As per details, OGRA has suggested to change high speed diesel price after 0.70 months from the present level. A revision after 0.75 months (22.5 days) of price per liter has been recommended for motor gasoline. After revision, the frequency of price of petrol would increase twice over the next month and a half.
Kerosene and light diesel oil prices might see a revision after 1.15 months and 1.40 months per liter respectively.
“As the petroleum minister I am looking into the suggestions that the Oil and Gas Regulatory Authority has sent, and especially looking into the ones that it hasn’t send. I will then decide whether the proposed frequencies suit the impact on voting trends, considering it is an election year,” said Prime Minister Shahid Khaqan Abbasi, who was later reminded that he is no longer the petroleum minister.