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POL prices likely to go up next month

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has proposed to increase petrol rates by Rs. 4.44 per liter from April 1, ARY News reported.

In a summary sent to the Petroleum Ministry, OGRA has suggested increase of Rs. 6.15 per liter in high speed diesel while Rs. 7.66 per liter for high octane blending component.

Similarly, hike of Rs. 1.56 per liter is also proposed in the rates of kerosene oil while Rs. 2.50 per liter for light speed diesel.

According to OGRA sources, till mid of March, a reduction was expected in petroleum prices but due to late increase in international crude oil prices the authority has suggested increase in the fuel prices.

It should be noted that, previously for the month of March, OGRA  had recommended Rs 5.8 increase in petroleum products’ prices but the government turned down the proposal by adjusting General Sales Tax (GST).

Currently the petroleum price stood as follows, High Octane Bleeding Component (HOBC) at 77.42, Petrol at 70.29, High Speed Diesel (HSD) at 80.61, Light Speed Diesel (LDO) at 57.94 and Kerosine Oil at 61.44.

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