Due to changes in the worldwide oil prices, petroleum product prices are likely to increase by up to 12.8% for April 2019.
Oil and Gas Regulatory Authority (Ogra) has proposed that the prices of high-speed diesel, petrol prices, kerosene oil prices, light diesel oil (LDO) prices will be increased by Rs11.17 per litre or 10%, Rs11.98 per litre or 12.8%, Rs6. 65 per litre or 7.7%, and Rs6.49 per litre or 8.4% respectively. Ogra proposed these prices in a summary sent to the Petroleum Division.
Also read: Petrol prices reduced by the government
If these changes are approved by the government the price of diesel would reach Rs122.60 from Rs111.43 per litre. The price of petrol would reach Rs104.80 from Rs92. 89 per litre.
The price of LDO would reach Rs84.03 from Rs77. 54 per litre and the price of kerosene oil would reach Rs92.96 from Rs86.31 per litre.
The final decision would be taken by the government on Ogra’s recommendation on Sunday.
Currently the government is charging Rs18 per litre petroleum levy on high speed diesel. On petrol, it is charging Rs14 per litre, on kerosene oil Rs6 per litre while on light diesel oil Rs3 per litre. Furthermore, on account of general sales tax, the government is collecting billions from the consumers.
It is pertinent to mention here that the high speed diesel is used in agriculture and transport industry thus raising its prices would have a negative impact on the life of a common man. Similarly petrol is used in cars while kerosene oil is used for cooking in remote areas.