Islamabad The Oil and Gas Regulatory Authority Ogra has calculated up to price 2.6 per cent reduction in prices of major petroleum products for October to pass on to the public the impact of lower prices in the international market.
However kerosene oil price has been proposed to be set at Rs100.76 per litre instead of Rs99.57 showing an increase of 1.2pc.
The oil and gas industry regulator, in a summary sent to the Petroleum Division, proposed a reduction of Rs2.55 per litre in the price of motor spirit (petrol) and Rs3.23 per litre in the price of high-speed diesel effective Tuesday 1 October 2019.
The Fuel Price Committee has announced a decrease of a little less than 2 per cent for drivers using Super 98 and Special 95.
The cost of diesel will rise slightly.
Here is the breakdown of prices per litre:
• Super 98: Dh2.24 down from Dh2.28 in September (fall of 1.7 per cent)
• Special 95: Dh2.12 down from Dh2.16 in September (fall of 1.8 per cent)
• Diesel: Dh2.41 up from Dh2.38 in September (rise of 1.2 per cent)
Fuel prices in the UAE were liberalised in August 2015 to adjust as per the market. Fuel prices in the UAE rose steadily until July when there was a 10 per cent fall. Prices rose 3 per cent in August and then fell 4 per cent at the start of September.