ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has worked out another increase in the ex-depot prices of petroleum products for the second half of October owing to price spike globally. The oil and gas regulator sent a summary to the Petroleum Division for recommendations for a significant hike in the prices based at current rate of petroleum levy (PL) and general sale tax (GST).

Sources said that the Ogra recommended Rs8 per litre raise in rate of petroleum and another increase by Rs11 per litre in price of High Speed Diesel (HSD). In case the federal government approves the recommendations of the Ogra, the price of petrol will go up by Rs8 per litre from Rs127.30 per litre to Rs135.30 per litre.

POL products’ prices increased

The price of HSD will also go up to Rs133.04 per litre from Rs122.04 per litre.

Brent crude oil price reached $83.37 per barrel on Thursday, which was $79.28 per litre on October 1, 2021.

Copyright Business Recorder, 2021