Pakistan’s Oil and Gas Regulatory Authority reduced prices of petroleum products

On July 31, 2010, the Oil and Gas Regulatory Authority of Pakistan (OGRA) of Pakistan slightly decreased prices of various petroleum products including motor spirit and High Octane Blending Component (HOBC), LDO, kerosene, due to a slight decrease in the prices of Arab Gulf petroleum products over the month of July. The price drop ranges from Rs. 0.21 to Rs 1.24 per litre for August.

Price of motor spirit has been reduced by 0.3 percent from Rs.67.95 per litre to Rs.67.74 per liter. Price of HOBC is reduced to Rs.80.34 per litre from 80.61 per litre while the price of Kerosene oil is reduced from Rs.65.38 per litre to Rs.64.85 per litre. Price of Light Diesel Oil (LDO) is reduced to Rs.61.35 per litre from Rs.81.66 per litre.

The price of petrol has been reduced by Rs 0.21 to Rs. 67.74 per litre. Price of JP-1 local is reduced by Rs. 0.44 to Rs.54.76 per litre. Price of JP-4 is reduced by Rs 1.24 to Rs.50.22 per litre and JP-8 by Rs. 0.45 to 54.46 per litre.

The prices have been reduced as per the import parity price formula approved by the Federal Government. However, the price of High Speed Diesel (HSD) has been raised by Rs.1.45 to Rs.73.03 per litre.