Drastic rise in Petroleum Prices on cards from March 1
ISLAMABAD - The federal government is planning to increase petroleum prices by up to 10 percent for March.
The proposed surge, as per the summary forwarded by the Oil and Gas Regulatory Authority (OGRA), is on the basis of increased rates of general sales tax and petroleum levy.
After the revised taxes rate, Ogra has proposed an increase of Rs. 9.44 per liter in the price of high-speed diesel (HSD), Rs. 4.71 in petrol, Rs. 8.06 in kerosene and Rs. 5.12 in the amount of light diesel oil (LDO).
If the proposal gets Prime Minister Imran Khan’s nod, the new price of HSD will be at Rs. 116.12 per liter from about Rs. 106.68, showing an increase of 8.8%.
The authority has proposed an increase of Rs. 5 per liter in the price of LDO. The new price will be Rs. 80.15 per liter instead of the existing Rs. 75.03 per liter, showing an increase of 6.8%.
Likewise, the petrol price will go up from Rs. 90.38 per liter to Rs. 95.09 per liter – showing a 5.2 percent hike.
In OGRA’s summary, the price of kerosene oil has been proposed at Rs.90.37 per liter instead of Rs. 82.31, up by 9.8 percent.