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Ogra wants Rs9.12pc hike in POL prices

Islamabad – The Oil and Gas Regulatory Authority (Ogra) has recommended up to Rs 9.12 per litre increase in the price of petroleum products for the month of March.12 per litre increase in the price of petroleum products for the month of March.
In a summary to the Petroleum and Finance Division, Oil and Gas Regulatory Authority has recommended an increase in the prices of almost all the petroleum products, it is learnt reliably here Wednesday.Ogra has recommended an increase of Rs 9.12 per litre in the price of High Speed Diesel (HSD), Rs4.71 in the price of Petrol, Rs 8.06 per litre in Kerosene Oil and Rs 5.12 in Light Diesel Oil, said the source.
Ogra has recommended an increase in oil prices mainly due to increase on Petroleum Levy and jump in the oil prices in international market. It is pertinent to mention here that last week Oil prices rises 3% last week in international market.
Ogra was directed by the government to make their recommendation regarding POL prices on the basis of new Petroleum Levy rates which was increased by 175 percent by the present government. If the Ogra recommendations would have been based on the Petroleum Levy of December Level then the HSD would have gone down by Rs 5 and Petrol by Rs 3 per litre said the source.It is pertinent to mention here that earlier Petroleum Levy on HSD was Rs 8 per litre and Petrol Rs 10 per litr but from January 1st the government has enhanced the PL. The government has further increased the Petroleum Levy in February and since February 1st the consumers are paying Rs 22 per litre PL on HSD, Rs 18 per litre on Petrol (Motor Gasoline), Rs 6 on Kerosene oil and Rs 3 on LDO.
If the government accepts the Ogra’s recommendation, then high speed diesel prices would increase to Rs 115.80 from the current Rs106.68 per litre, petrol price will increase to Rs 95.09 per litre from existing Rs 90.38 per litre. While Light Diesel Oil (LDO) price will increase from the existing Rs 75.28 per litre to 80.40 per litre and kerosene oil will increase to Rs 90.31 per litre from the current Rs 82.25.High speed diesel is being used in agriculture and transportation, kerosene oil is used in remote areas where LPG was not available for cooking purposes. The LDO is used in industry.

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