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Oil prices may be slashed up to 12% in March

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended government on Friday to reduce petroleum products up to 12 per cent, else than kerosene oil, for the next month (March).

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In a summary, Ogra said that a substantial slash in oil prices had been witnessed in global market in February. The benefit of this reduction in prices should be passed on to consumers, it read.

Regulatory authority recommended  a slash of 11.9pc in petrol price, 6.2 per cent high speed diesel (HSD), 4.93 % in diesel oil (LDO), 3.95pc in high octane blending component (HOBC).

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