ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has reduced the petrol price by Rs2 per litre, according to an official notification.
Following the reduction, the new petrol price has been fixed at Rs330 per litre.
Meanwhile, the diesel price has been maintained at Rs360 per litre, according to the notification.
The revised petroleum prices have been announced by OGRA.
Refinery audit could pave way for Rs50 petrol price cut
Earlier, Petroleum dealers demanded a forensic audit of oil refineries’ profits, claiming that a transparent review could reveal scope for reducing petrol prices by Rs50 per litre and providing relief to consumers.
The demand was raised during an emergency meeting of petroleum dealers in Karachi, where participants discussed refinery profits, petroleum pricing and possible relief for consumers.
Petroleum dealers, including Malik Khuda Bakhsh and Anwar Kamal, called for a transparent forensic audit of the financial affairs of all refineries to establish the actual profits earned by the companies.
Malik Khuda Bakhsh said refineries had earned profits equivalent to a full year’s earnings in just three months. He said a forensic audit would bring the facts about their profits to light.
Anwar Kamal said consumers could be given relief of Rs40 to Rs50 per litre on petrol if the matter was properly examined.
The dealers said the petroleum minister’s statement had confirmed their reservations. They alleged that refineries had earned excessive profits and demanded that consumers be given their rightful relief.
They further called for a comprehensive audit of the refineries’ financial records to determine their past earnings and prevent additional financial burdens on consumers in the future.
