OGRA cuts petrol and diesel prices effective November 4
The Oil and Gas Regulatory Authority in Islamabad reduced fuel prices starting November 4.
Petrol and diesel rates drop
OGRA lowered the ex-depot price of petrol by Rs5.45 per litre to reach Rs369.06. The authority also cut high-speed diesel prices by Rs3.68 per litre to a new rate of Rs391.52. These adjustments take effect on Tuesday, November 4.
Global market factors influence costs
The regulator noted that international benchmark prices for petrol fell from USD 118.62 to USD 115.49 per barrel. High-speed diesel benchmarks similarly decreased from USD 114.31 to USD 112.20 per barrel. Officials attributed the changes to global market trends and shifts in Platts pricing.
New pricing mechanism applies
The revised prices were determined under a federal government petroleum products pricing mechanism announced earlier this week. Oil refineries will contribute to a levy bearing a cumulative impact of Rs15 billion under the new rules.
2 outlets, different leads
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Associated Press of Pakistan
OGRA cuts petrol price by Rs5.45, diesel by Rs3.68 per litre
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Business Recorder
Petrol price slashed by Rs5.45, HSD’s by Rs3.68
Reported by
2 independent outlets. Headlines as published. Links open the original report.