Ogra suggests Rs4.20 raise in petrol, Rs3.50 in diesel prices

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has suggested to the government for increasing the petroleum prices after keeping their prices unchanged for the last almost two months. The regulator has suggested increasing the petrol price by Rs4.20 per liter and high-speed diesel by Rs3.50 per liter from June 16 till the end of this month.

While keeping in view the petroleum levy and general sales tax, Ogra calculates ex-depot prices of petroleum products for each fortnight and then suggests to the government that whether to increase, reduce or keep the product prices unchanged.

It is worth mentioning that currently, the petroleum levy rate on high-speed diesel (HSD) is Rs5.14/liter and petrol Rs4.80 per liter. The current price of petroleum products stands as Ms Petrol Rs.108.56/liter, HSD Rs.110.76/liter, Kerosene Oil Rs80.00/liter and Light Diesel Oil (LDO) Rs77.65/liter. High-speed diesel (HSD) is mostly used in agriculture and heavy transport sectors.

Meanwhile, sources said Monday the prices of petroleum products are expected to go up from June 16, sources said Monday. As per sources, the Ogra has sent a summary to the Finance Division, recommending an increase in the prices of petroleum products. However, the Ministry of Finance will make the final call on whether or not to increase prices of petroleum products, after consulting the prime minister.