ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended increasing oil prices by as much as Rs14.37 for the month of May.
According to media, in a summary moved to the petroleum division on Monday, the Ogra proposed that the price of high speed diesel (HSD) be raised by Rs4.89 per liter and petrol price be hiked by Rs14.37 per liter for the next month.
The regulator has also requested an increase in prices of kerosene oil of Rs7.46 per liter while a rise of Rs6.40 per liter has been recommended for light diesel oil (LDO).
If the government accepts this recommendation, then diesel prices would inflate to Rs122.32 per liter, petrol to 113.26 per liter, LDO to Rs86.94 per liter and kerosene oil would go up to Rs96.77 per liter.
Prime Minister Imran Khan will take the final decision over the price hike after consultations with the petroleum and finance ministries.
Last month, the government had raised the oil prices by up to Rs6 per liter for April in line with fluctuation in global oil prices.
Prices of petrol and high speed diesel were increased by Rs6 per liter each, and Kerosene oil and light diesel oil by Rs3 per liter each.
The price of diesel was inflated from Rs111.43 to Rs117. 43 per liter, petrol from Rs92.89 to 98.89 per liter, LDO from Rs77. 54 to Rs80.54 per liter and kerosene from Rs86. 31 to Rs89.31 per liter.
High speed diesel is widely used in agriculture and transport sectors and therefore increase in its price would have a direct impact on life of a common man due to inflationary impact. The petrol is used in vehicles. Kerosene is used in remote areas for cooking where LPG is not available.
