\n<\/p>\n
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a notification announcing a reduction in petrol and diesel prices.<\/strong><\/p>\n According to the notification, the petrol price has been reduced by Rs3 per litre to Rs332, while the diesel rate has been cut by Rs4 per litre to Rs360.<\/p>\n The revised prices of petroleum products will take effect on November 13.<\/p>\n Earlier, Petroleum dealers demanded a forensic audit of oil refineries\u2019 profits, claiming that a transparent review could reveal scope for reducing petrol prices by Rs50 per litre and providing relief to consumers.<\/p>\n 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.<\/p>\n 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.<\/p>\n Malik Khuda Bakhsh said refineries had earned profits equivalent to a full year\u2019s earnings in just three months. He said a forensic audit would bring the facts about their profits to light.<\/p>\n Anwar Kamal said consumers could be given relief of Rs40 to Rs50 per litre on petrol if the matter was properly examined.<\/p>\n The dealers said the petroleum minister\u2019s statement had confirmed their reservations. They alleged that refineries had earned excessive profits and demanded that consumers be given their rightful relief.<\/p>\n They further called for a comprehensive audit of the refineries\u2019 financial records to determine their past earnings and prevent additional financial burdens on consumers in the future.<\/p>\n<\/div>\nRefinery audit could pave way for Rs50 petrol price cut<\/strong><\/h2>\n