Ogra proposes rise in petroleum products’ prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Wednesday proposed to the government to increase prices of petrol by Rs1.48/litre, kerosene oil by Rs15.35/litre and light diesel oil by Rs13.15/litre for December.
The government will announce its decision on Ogra’s recommendations on Thursday (today). Ogra, in a proposal forwarded to the ministries of petroleum and natural resources and finance, recommended a 1.9 percent increase in petrol price, a 28.9 percent price surge for kerosene oil and a 26.8 percent rise in price of light diesel oil.
If the government approves the recommendation, petrol price will go up to Rs77.47/litre from the current Rs75.99, price of kerosene oil will shoot to Rs68.54/litre from the existing Rs53.19/litre and light speed diesel price will increase to Rs62.15/litre from the existing Rs49/litre. Last month, the government deregulated margins on high speed diesel for oil marketing companies and dealers and so they are free to determine prices of high speed diesel.