ISLAMABAD: Ignoring recommendations by the Oil and Gas Regulatory Authority (Ogra) for up to 7.2 per cent cut in oil prices, the caretaker government on Tuesday reduced the rates of petrol and diesel by 4.6pc and 2.32pc respectively with immediate effect to pass on to consumers the impact of lower international prices.
The government also increased petroleum levy on almost all oil products to earn higher revenue and also protected comparatively higher GST on them.
