The Oil and Gas Regulatory Authority (OGRA) has submitted a working paper to the government, proposing an increase in the prices of petroleum products. This comes amidst concerns about rising global oil prices and potential revenue shortfalls.
According to sources, regulatory authority has suggested a hike of Rs 3.44 per liter for petrol. This would translate to an increase in the ex-refinery price from Rs 192.17 per liter to Rs 195.61 per liter.
The proposal also includes a potential increase of Rs 1 per liter for diesel, raising the ex-refinery price from Rs 206.75 per liter to Rs 207.75 per liter.
Kerosene prices might also go up by Rs 1 per liter as well, with the ex-refinery price potentially going up from Rs 177.70 per liter to Rs 178.52 per liter.
However, the OGRA has proposed a decrease in the price of light diesel oil (LDO) by an unspecified amount.
It is important to note that these are merely suggestions, and the final decision regarding price adjustments rests with the Ministry of Finance. The ministry will consider various factors, including global market trends, revenue requirements, and potential impacts on consumers, before making a final decision.
