The possibility of a significant reduction in the prices of petrol and diesel has been indicated due to a global market downturn.
Ogra has submitted a summary of reducing petroleum product prices to the Petroleum Division. According to media reports, there is a significant possibility of a price reduction for petrol and diesel, which could lead to a decrease in petrol prices by 28 rupees per liter.
The price of diesel is expected to decrease by 18 rupees per liter because the price of petrol has decreased by 10 dollars per barrel in the global market. The price of diesel has decreased by 8 dollars per barrel and the price of diesel in the world market has decreased from 126 dollars to 118 dollars per barrel.
On the other hand, the possibility of a further increase in the profit of oil marketing companies and dealers on petrol and diesel has been revealed. It is proposed to increase the profit of oil marketing companies and dealers by 88 paise per liter from October 16, and the profit of oil marketing companies by 47 It is proposed to increase by 41 paise per liter while dealer profit on petrol and diesel is proposed to be increased by 41 paise per litre.
Sources say that OMC and dealers' margin was also increased on September 16 and October 1. At that time, oil marketing companies are taking Rs 6.94 paisa profit per liter of petrol, while dealers are taking Rs. 7.82 paisa profit per liter of petrol. While the oil marketing company's profit per liter of diesel is 7 rupees 8 paise, at the moment dealers' margin is being charged at 7 rupees 82 paise per liter of diesel. It may be recalled that the caretaker government had reduced the price of petrol by Rs 8 on September 30, after which the new price of petrol is Rs 323.38, while high speed diesel is also available at Rs 318.18 cheaper by Rs 11.