ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended increasing prices of petroleum products by up to 16.9% for June 2018, following a rise in global crude prices.
The Ministry of Energy (Petroleum Division) received a summary from Ogra on Wednesday that recommended an upward revision in oil prices. Prices of all petroleum products, except for kerosene, are deregulated and Ogra is tasked with just monitoring the prices.
Following the global price rise, the effect will be felt in the prices of petrol, kerosene, high speed diesel (HSD) and light diesel oil (LDO).
According to Ogra’s summary, petroleum division officials said consumers of HSD, which is mostly used in the transport and agriculture sectors, may face an increase of Rs12.50 (12.7%), which would take its price to Rs111.26 per litre from the existing Rs98.76per litre.
However, petrol prices may go up from the existing Rs87.70 to Rs96.07per litre, an increase of Rs8.37 per litre (9.5%).
The price of kerosene may be increased by Rs8.23 per litre, up 10.3% from Rs79.87 to Rs88.10 per litre. Kerosene oil is used for cooking purpose especially in remote areas where LPG or pipeline gas was not available.
Similarly, LDO, mainly used for industrial purposes, may record an increase of Rs11.65 (16.9%), taking the price from Rs68.85 to Rs80.50 per litre.
