OGRA hints at another petrol price hike from March 1

ISLAMABAD: Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan on Wednesday hinted at another hike in price of petrol from March 1, ARY News reported.

According to details, the National Assembly (NA) Standing Committee on Petroleum on Wednesday met in Islamabad under its chairman Imran Khatak, in which, the OGRA chairman hinted that the prices of petroleum products will go up from March 1 in light of increase in oil prices globally.

“The government is receiving Rs14 petroleum levy while GST is zero,” he told the meeting and added that the hike in oil prices in global market in 12 weeks was unprecedented.

When asked about how much the current situation in Russia would make a difference on petroleum prices in Pakistan, the OGRA chairman said: “You are fully aware of today’s development regarding hike in oil prices globally due to Russia-Ukraine crisis. As the prices further go up, the burden will directly fall on people.”

It is worth mentioning here that the federal government on Feb 16 increased the prices of petroleum products by up to Rs12 per litre.

According to the notification issued by the finance ministry, the ruling Pakistan Tehreek-e-Insaf (PTI) government has increased petrol price by Rs12.03 per litre, high-speed diesel by Rs9.53 per litre and the price of light diesel was jacked up by Rs9.43.

The price of Kerosene oil also increased by Rs10.08 per litre, according to the notification.