ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Petroleum Division seeking revision of prices of petroleum products for the month of December.
“OGRA has forwarded a summary to the Ministry of Energy Petroleum Division two days ago to revise the POL products’ prices for the next month,” state-owned wire service reported citing official sources.
The regulatory body, however, didn’t disclose details about proposed prices.
The finance ministry will finalize the summary on November 30, after which revised prices will be notified, they added.
In international market price of petroleum products had declined, consumers in Pakistan are also expecting reduction accordingly.
On Oct 31, the federal government increased 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 on Oct 31.
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 was 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 was 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 was approved as the tax/levy on this product is already quite negligible.
The new price of petrol was fixed at Rs97.83 per litre, diesel Rs112.94 and kerosene oil Rs86.50 per litre while the he new price for light diesel was priced at Rs82.84 per litre.
