The consumers are likely to face another price hike from four percent to 20 percent as per the recommendation of the Oil and Gas Regularity Authority (OGRA) on Tuesday, effective from Feb 01, 2018.
ISLAMABAD, (Pakistan Point News - 30th Jan, 2018) : The consumers are likely to face another price hike from four percent to 20 percent as per the recommendation of the Oil and Gas Regularity Authority (OGRA) on Tuesday, effective from Feb 01, 2018. If the government approved the recommendations of the regulatory authority, the price of high speed diesel is likely to exceed Rs 100 per litre. The OGRA also recommended an increase of 3.
7 per cent in the price of petrol following fluctuation in global oil prices. The regulator has recommended an increase in the prices of petroleum products of up to 20.1 per cent after the rates of crude oil surged in the international market. The Ministry of Energy (Petroleum Division) has received a summary from OGRA that recommended an upward revision in oil prices. The OGRA recommended an increase of Rs2.98 per litre (3.
7%) in the price of petrol, Rs10.25 per liter (11.4%) high speed diesel, Rs12.74 per litre (19.8%) in the price of superior kerosene oil (SKO) and Rs11.72 per litre (20.1%) in the price of light diesel oil (LDO). In case the government approves the determination of the regulator about the increase in prices of various petroleum products, petrol price will go up to Rs84.51 per litre from the current Rs 81.53. The prices of SKO will go up to Rs77.
06 per litre from the existing Rs64.32 per litre, and the price of light diesel oil (LDO) will go up to Rs70.09 from the existing Rs58.37 per litre. After deregulation of HSD, the increase in its price has been worked out at Rs10.25 per litre — from the existing Rs89.91 to Rs100.16. Consumers were also paying higher rates of taxes on this product which was widely used in transport and agriculture sectors. Therefore, increase in the price of diesel will directly affect their lives as it would lead to corresponding hike in inflation.
