ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has suggested an increase of Rs11.91 and Rs11.17 per litre in the prices of petrol and diesel respectively for April.The authority has also suggested that the kerosene price may be increased by Rs6.65 per litre and Light diesel Oil (LDO) by Rs6.49 a litre. There are high chances that the government will increase the petroleum products’ prices, as fuel makes one of the major revenue collection heads.Interestingly, in the first-half (July-Dec) of the current financial year, revenue shortfall from this head recorded at more than Rs75 billion. Besides, increasing price of oil in the international market will also push the government to jack up fuel prices.The Ogra has forwarded a summary to the Ministry of Energy (Petroleum Division) which would be forwarded to the Finance Ministry. The summary suggests Rs11.91 per litre (or 12.88 pc) increase in petrol price. If the government accepts this recommendation, petrol price will go up from the existing Rs92.88 per litre to 104.79 per litre.The regulator has also recommended an increase of Rs11.17 per litre (or 10.02pc) in the price of High Speed diesel (HSD). HSD is widely used in transport and agriculture sector. With this increase, the fuel price will increase to Rs122.6 per litre from the existing Rs111.43 a litre.The government has been suggested to increase the kerosene price from Rs86.31 to Rs92.96 per litre with an increase of Rs6.65 per litre. Kerosene is used for cooking purpose, especially in the remote areas where LPG or pipeline gas is not available.An increase of Rs6.49 per litre has also been suggested in the price of light diesel oil (LDO) that is mainly used for industrial purposes. In case of acceptance of summary, the fuel price will go up from Rs77.53 per litre to Rs84.02 per litre. The government will take the final decision on the Ogra’s recommendations on Sunday.
03-30-2019, 11:08 PM
Ogra seeks over Rs11 per litre hike in petrol, diesel prices
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