ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has lowered the prices of petrol and diesel, with the revised rates applying from November 11.
A notification issued by OGRA said petrol has come down by Rs8 per litre, bringing it to Rs338 per litre. Diesel has been reduced by Rs7 per litre, setting its new price at Rs371 per litre. The notification added that the revised prices take effect on November 11.
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Dealers question refinery profits and call for audit
Earlier, petroleum dealers had demanded a forensic audit of oil refinery profits. They argued that a transparent review could open the way to cutting petrol prices by Rs50 per litre, giving consumers relief.
Also read: Petrol price cut to Rs346 per litre, diesel to Rs378
The demand came up at an emergency meeting of petroleum dealers in Karachi, where participants discussed refinery earnings, fuel pricing and possible relief for consumers. Malik Khuda Bakhsh and Anwar Kamal were among those calling for a transparent audit of all refineries’ finances. Malik Khuda Bakhsh said refineries had earned in three months what would normally amount to a full year’s profit, and that a forensic audit would reveal the facts.
Anwar Kamal said consumers could receive Rs40 to Rs50 per litre in relief on petrol if the matter were properly examined.
Dealers say minister’s remarks back their concerns
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 compensated accordingly.
They also urged a comprehensive audit of refinery financial records to determine past earnings and prevent further financial burdens on consumers in the future.
