It has been recommended by the Oil and Gas Regulatory Authority (Ogra) to increase the petrol prices by Rs 6.21 per litre. OGRA has given the recommendation to the government for the hike of petroleum products prices from December 2018.
Ministry of Energy, Petroleum Division has been sent a summary by OGRA. The Ministry has been notified about the revised prices. Final decision on it will be taken by the Prime Minister, Imran Khan today.
Due to the depreciation of rupee against the dollar, OGRA has recommended a hike in the petrol prices.
The recommendation given by OGRA is to increase the petrol prices by Rs 6.21 per litre, high speed diesel (HSD) by Rs 2.00 per litre, kerosene oil by Rs 9.91 per litre, and light diesel oil (LDO) by Rs 7.79 per litre. The prices have been increased on basis of the 17% general sales tax. 4.5% general sales tax is being charged by the government for petrol, on kerosene oil 1.5% is charged, 12% is being charged on HSD.
If the recommendation prices by OGRA are accepted by the government the new petrol price will be Rs 104.04 per litre from Rs 97.83 per litre. The new price of HSD will be Rs 114.94 per litre from Rs 112.94 per litre. The new price of Kerosene oil will be Rs 96.41 litre from Rs 86.50 per litre. As for LDO the new price will be Rs 90.23 per litre from Rs 82.44 per litre respectively.