Oil price to be hike during the tense and war-like situation of Pakistan and India, it is recommended by OGRA to the federal government at the end of the month February.
The Oil and Gas Regulatory Authority (OGRA) in its summary to the government has recommended up to Rs9.4 hike in petroleum products prices. Sources said the OGRA had forwarded its summary on petroleum prices on the basis of increased rates of general sales tax (GST) and petroleum levy.
The Ogra has proposed Rs9.44 a litre increase in high speed diesel (HSD) price, Rs4.71 in petrol, Rs8.06 in kerosene and Rs5.12 in light diesel oil (LDO) price. If the proposal gets implemented, the HSD price will be Rs116.12 per litre, the petrol price will be Rs95.09 a litre, kerosene oil will be Rs90.37 a litre, LDO price will be Rs80.15 a litre.
In January, the government had announced to reduce prices of petroleum products for February. According to details, the price of petrol had been slashed by 0.59 paisas and new price was 90.38 rupees a litre. Light Diesel price had been reduced by 0.25 paisas and is being sold at Rs75.03 a litre, while price of Hi-Speed Diesel to remained unchanged. The price of Kerosene Oil has been decreased by 0.73 and it is currently being sold at 82.25 rupees a litre.
It is yet not decided by government but soon it may be considered and prices may be hiked. OGRA recommendations has been received by the PM office. According to sources the recommendations was not yet presented the Prime Minister and may be reviewed soon. The final decision would be taken by the Prime Minister Imran Khan and he will announced soon.