The oil and gas regulator proposed the government to decrease the prices of motor sprit (MS) by Rs 4.59 per litre. The prices of High Speed Diesel (HSD) have been recommended to decrease by Rs 7.67 per litre, kerosene oil by Rs 4.27 per litre and Light Speed Diesel (LDO) by Rs 5.63 per litre.
In case, government approves the recommendations of the OGRA, the new prices of all petroleum products would revised downwards.
The summary has been forwarded to Ministry of Finance for final approval. After the approval in the recommended changes in the oil prices, the new price of MS will be Rs 113.24 per litre, HSD will be Rs 124.80 per litre, kerosene oil Rs 99.57 per litre and LDO Rs 91.89 per litre.
The government is charging 17pc general sales tax (GST) on all petroleum products. Besides the GST, the petroleum levy ranging between Rs14-18 per litre was being charged on petrol and HSD and Rs3-6 on kerosene and LDO.
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