Islamabad: The Oil and Gas Regulatory Authority (OGRA) proposed to the Oil Department on Wednesday to raise prices for petroleum products.
In the statement sent to the petroleum department, OGRA recommended increasing the price of gasoline to Rs 7 per liter and the price of light diesel to Rs 6 per liter.
The regulator also proposed that by August 2020 the price of high-speed diesel (HSD) per liter will be 9.50 rupees, while the price of kerosene will be increased by 6 rupees.
The new price of petroleum products will be announced after Prime Minister Imran Khan has approved it.
On June 27, the federal government immediately raised prices for petroleum products. According to a statement by the Financial Secretary, the government has decided to revise existing petroleum product prices in the light of the rising trend in world oil prices.
Gasoline prices rose by 25.58 rupees to 100.10 rupees per liter, while high speed diesel (HSD) prices rose by 21.13 rupees to 101.46 rupees per liter.
On the other hand, the price of light diesel (LDO) rose by 17.84 rupees to 55.98 rupees per liter and the price of high-performance kerosene (SKO) rose by 23.50 rupees to 59.06 rupees per liter. Rise.
Since March 1, the government has lowered local prices four times, resulting in a drop in liter prices from 116.56 rupees per liter to 74.5 rupees (official price) per liter, from 42.1 rupees per liter. After the international crude oil price plummeted, it could do that.
However, the government has doubled the gas tax from 15 rupees in January to 30 rupees now. The government levies a 17% tax on sales tax on gasoline, but has changed the oil tax rate, which is the main tool to increase the tax on oil consumption or to pass on any relief to consumers. You currently have to pay 41 rupees per liter of petrol, including sales tax.