Ogra proposes Rs14.37 per liter hike in petrol price
When Pakistan Tehreek-e-Insaf (PTI) formed government last year, petrol was at Rs95.24 per liter.
ISLAMABAD (Dunya News) – The Oil and Gas Regulatory Authority (OGRA) has proposed an increase of Rs14.37 and Rs4.89 per litre in the price of petrol and high-speed diesel (HSD), respectively from the month of May.
In this regard, a summary has been forwarded to the ministry of energy (Petroleum Division).
Besides, it has also recommended an increase of Rs7.46 and Rs6.40 per litre price for kerosene oil and light diesel oil (LDO).
The oil and gas regulator has estimated a 15 percent increase in prices of all petroleum products following the rise in international crude prices amid rumours of supply shortage.
However, if the calculations made by Ogra are accepted by the government, the price of petrol for May would reach to Rs113.25 from the current Rs98.88 per litre.
The price of HSD — most widely consumed petroleum fuel — will increase to Rs122.32 from the current Rs117.43 per litre.
LDO would go up from Rs 80.54 to Rs 86.93 per litre and per litre price of kerosene oil will jump to Rs96.75.
Prime Minister Imran Khan will give final approval on OGRA’s recommendation, and the new prices would come into effect from May 1. The final decision is scheduled to be taken by the government on April 30.
It is pertinent to mention that the government on April 1 increased prices of all petroleum products by up to 6.45 percent.
Petrol and diesel prices were increased by Rs6 per liter while kerosene and light diesel oil (LDO) were jacked up by Rs3 per liter.
With the decision, the ex-depot price of motor spirit (petrol) was fixed at Rs98.89 per liter, high speed diesel (HSD) was set at Rs117.43, kerosene oil was increased to Rs89.31 per litre and the ex-depot price of LDO was increased to Rs80.54 per litre.
When Pakistan Tehreek-e-Insaf (PTI) formed government last year, petrol was at Rs95.24 per liter.
From August 2018 to April 2019, the federal government has raised prices of petroleum products four times and reduced the prices three times, whereas prices were only maintained for one month.
