ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has proposed an increase in Gas prices and cut on petroleum products, apparently to attract consumers convert from CNG, which is already short in supply.According to Oil and Gas Regulatory Authority (OGRA) sources, the prices of petroleum products will be reduced from Rs 3.0 to Rs 5.0 per litter.
A decision in this regard will be made on midnight December 31, and the cut will be in effect from January 01, 2010, sources said."The decision is taken in the view of decreasing oil prices in the international market," OGRA sources said. The OGRA has recommended a cut of Rs 4.0/litter on petrol, Rs 3.5 on diesel, Rs 5.0 on high octane and Rs 3.0 on kerosene oil.
Sources said Christmas vacations and heavy snow patterns in Europe and the US have substantially reduced petroleum consumptions reduced its prices on> the international market. Sources further said that the OGRA has proposed an increase of Rs 78 per MMBTU on gas prices from January 01, 2010. However, a final decision will be> taken on December 31, 2009. Sources said the proposed increase in gas prices will increase gas prices by almost 20 percent to Rs 60 per kg.
The proposal is in a way an attempt to lure the consumers to convert back to petrol from CNG, which is an environment friendly fuel and so far been a> cheaper too. Experts say the proposal, if approved, will reduce CNG consumption and save> natural gas, which is short in supply, but on the other, will adversely affect the environment. INP
A decision in this regard will be made on midnight December 31, and the cut will be in effect from January 01, 2010, sources said."The decision is taken in the view of decreasing oil prices in the international market," OGRA sources said. The OGRA has recommended a cut of Rs 4.0/litter on petrol, Rs 3.5 on diesel, Rs 5.0 on high octane and Rs 3.0 on kerosene oil.
Sources said Christmas vacations and heavy snow patterns in Europe and the US have substantially reduced petroleum consumptions reduced its prices on> the international market. Sources further said that the OGRA has proposed an increase of Rs 78 per MMBTU on gas prices from January 01, 2010. However, a final decision will be> taken on December 31, 2009. Sources said the proposed increase in gas prices will increase gas prices by almost 20 percent to Rs 60 per kg.
The proposal is in a way an attempt to lure the consumers to convert back to petrol from CNG, which is an environment friendly fuel and so far been a> cheaper too. Experts say the proposal, if approved, will reduce CNG consumption and save> natural gas, which is short in supply, but on the other, will adversely affect the environment. INP
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