The Oil and Gas Regulatory Authority (OGRA) on Friday recommended to the government to increase the prices of petroleum products in the range of Rs 6.19 per litre to Rs 13.25 per litre. According to a summary forwarded by OGRA to the Petroleum Ministry, the authority keeping in view international changes in crude oil prices has recommended an increase of Rs 6.19 per litre in petrol and Rs 13.25 per litre increase in price high Octane Blending Component (HOBC).
High Speed Diesel (HSD) by Rs 7.91, Light Diesel Oil (LDO) Rs 7.62 per litre and Kerosene Oil (KO) by Rs 6.53 per litre. Ogra has also suggested the government to maintain the prices by absorbing petroleum levy. A final decision on the summary will be taken after Prime Minister Nawaz Sharif's approval.
According to sources, the government is likely not to pass on the entire burden on final consumers as it may put partial burden on the end consumers by bringing down rate of different taxes imposed on the major petroleum products. At present different petroleum products are being sold on the following prices: HOBC at Rs 80.18 per litre, Petrol at Rs 74.29 per litre, High Speed Diesel at Rs 83.61 per litre, Light Speed Diesel at Rs 57.94 per litre and Kerosene Oil Rs 61.44 per litre. If the government is considering the OGRA summary the prices of petroleum products from June 1 will be as follow:
Petrol from Rs 74.29 per litre to Rs 80.48 per litre, HOBC from Rs 80.18 per litre to Rs 93.43 per litre, HSD from Rs 83.61 per litre to Rs 91.52 per litre, LDO from Rs 57.94 to Rs 65.56 per litre and KO from Rs 61.44 per litre to Rs 61.44 to Rs 67.97 per litre.
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