Ogra recommends increasing petrol price by Rs5.21

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Ministry of Petroleum, recommending an upward revision of prices of petroleum products for the month of December.

As per details, the regulatory body has recommended an increase of Rs5.21 in the price of petrol and Rs2 in the price of high speed diesel (HSD).

The price of light speed diesel has been recommended to be hiked by Rs7.79 per litre, while kerosene oil by Rs9.91 per litre.

Last month, the federal government increased the prices of diesel and petrol by Rs5 and Rs6.37 per litre, respectively, for the month of November.

“The government has decided to absorb the substantial impact of increase in the prices of petroleum products and only partially pass on the increase to the consumers for the month of November. The decision has been taken to minimize the burden on the public at large,” read a statement issued by finance ministry.

The statement said that the Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs9.02 per litre in the price of petrol but an increase of Rs5 has been allowed by the government. Likewise as against the recommended increase of Rs13.22 per liter in the price of High Speed Diesel (HSD), an increase of Rs. 6.37 has been approved. For Kerosene Oil (SKO),  the recommended increase was Rs6.47 per litre but the government allowed an increase of Rs.3.0per litre only. As for Light Diesel Oil (LDO), the recommended increase of Rs6.48 has been approved as the tax/levy on this product is already quite negligible.

The new price of petrol is Rs97.83 per litre, diesel Rs112.94 and kerosene oil Rs86.50 per litre while the The new price for light diesel is Rs82.84 per litre.