Industry

Ogra proposes raise in Petroleum products

ISLAMABAD, February 28, 2019: The federal government may increase the prices of petroleum products by up to 10 percent.

Sources said that Oil and Gas Regulatory Authority (Ogra) has recommended Rs9.44 per litre increase in the price of high speed diesel (HSD), Rs4.71 in petrol, Rs8.06 in kerosene and Rs5.12 in the price of light diesel oil (LDO).

As such, the ex-depot rate of HSD has been estimated at Rs116.12 per litre up from Rs106.68, showing an increase of 8.8pc. Likewise, the petrol price has been proposed to go up to Rs95.09 per litre, from the existing rate of Rs90.38.

The price of kerosene oil has been proposed at Rs90.37 per litre up from Rs82.31. OGRA has forwarded this proposal on the basis of increased rates of general sales tax and petroleum levy in the mini budget.

Last month, the federal government announced to increase GST on all petroleum products up to 17 percent to generate Rs 11 billion additional revenue.

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