Oil and Gas Regulatory Authority (OCRA) today sent the summary to Finance Ministry recommending an increase in Oil prices for the month of October. According to the summary, the OGRA recommends to increase the price of Petrol by Rs2.36 per litre and High-Speed Diesel (HSD) by Rs2.20, not only this the oil and gas regulatory authority also approves the increase in Kerosene oil by Rs19.33 per litre.
Now the whole nation eyes on the government’s decision which could seriously affect their monthly budgets, if government approves OGRA recommendation as it is proposed to increase the prices of various petroleum products, the new petrol price would jump to Rs75.16 per litre from current Rs72.80 per litre, similarly, diesel will go jump to Rs83.6 from Rs81.40 per litre.
However, Kerosene oil would see a major change in the price from current Rs44 per litre to Rs63.33 per litre.
Last month government revised oil prices and increased the petrol prices by Rs2 per litre for the month of September, however, prices of other petroleum products including High-Speed Diesel, Kerosene Oil, and Light Speed Diesel LSD remained unchanged. These prices were also recommended by OGRA, During the months of May, June, July and August OGRA two times proposed the reduction in oil prices which government accepted partially and two times proposed an increase in prices which government again accepted partially.
This time if government applies partial recommendation then it can be expected that the prices would see less increment.