Tuesday, April 30, 2019
















Ogra proposes up to 15pc hike in petroleum prices


The Oil and Gas Regulatory Authority (Ogra) has calculated an increase of Rs 14.38 and Rs 4.89 per litre in the price of petrol and high-speed diesel (HSD) respectively for the month of May. The oil and gas regulator has estimated a 15 per cent increase in prices of all petroleum products following the rise in international crude prices amid rumors of supply shortage. In addition to the petrol and HSD, Ogra has also calculated an increase of Rs 7.45 and Rs 6.41 per litre price for kerosene oil and light diesel oil (LDO).
HSD is usually used as fuel for heavy vehicles and machinery whereas LDO is used in vehicles with older engine models and small-scale mills which are mostly found in the rural areas. Ogra has forwarded the summary of increase in petroleum prices to the Ministry of Energy (Petroleum Division) on Monday but sources at the division said the government is likely to bring down general sales tax (GST) on diesel from 17pc and make adjustments in petroleum levy (PL) on other products to prevent a sharp rise in prices ahead of Ramazan.

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