Ogra suggests hike in POL prices
 

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has suggested an increase of Rs5.15 a litre in the price of petrol and of Rs5.65 a litre in the price of diesel for August 2019.The regulator has also asked the government to increase the price of kerosene by 5.38 a litre and of Light Diesel Oil (LDO) by 8.90 a litre. The regulator has sent the summary to the Petroleum Division for final decision.For the outgoing month of July, the government had kept the prices of petroleum products unchanged, while in the same month Pakistan started receiving monthly oil supplies worth $275 million from Saudi Arabia on deferred payment.Under this arrangement, Pakistan would get $9.9 billion worth of oil over next three years. The Brent oil price in the international market on July 30 was recorded at $64.03/barrel, which was earlier in April and June hovering near $72/barrel.In case of approval of the summary, the price of petrol would go up from Rs112.68 to Rs117.83 per litre and of diesel from Rs126.82 to Rs132.47/litre. The kerosene price would go up to Rs103.84 a litre from current price of Rs98.46 per litre. The LDO price would also go up from current Rs88.62 per litre to Rs97.52 per litre.At present, the government is charging standard GST rate of 17 percent on all petroleum products. The government would take a final decision [on these proposals] on Wednesday (today).http://feeds.feedburner.com/~r/com/cwEr/~4/iWJ0V-Y7S20

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