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Ogra recommends Rs15/litre increase in kerosene oil [The Nation] 29 Apr, 2017

ISLAMABAD -  The Oil and Gas Regulatory Authority (Ogra) has recommended the government to reduce Motor Gasoline (Petrol) and High Speed Diesel (HSD) prices by Rs1 per litre each for May.

The authority also proposed Rs 15 per litre increase in kerosene oil for the month of May. As per the working paper sent to the Ministry of Petroleum and Natural Resources, the Ogra has proposed to reduce petrol and diesel prices by Rs1 per litre each. However, the authority suggested increasing Kerosene price by Rs15 and light diesel oil (LDO) by Rs10 per litre.

In case the government approves the Ogra determination about the increase and decrease in prices of various petroleum products, petrol price will go down to Rs73 per litre from the current Rs74 and diesel to Rs82 per litre from current Rs83 per litre. The prices of Kerosene Oil after an increase of Rs15 will go up to Rs59 per litre from the existing Rs44 per litre and the price of Light Diesel Oil (LDO) will go up with an increase of Rs10 per litre to Rs54 from existing Rs44 per litre.

It is pertinent to mention here that last month the Ogra has advised the government to increase Petrol and High Speed Diesel (HSD) prices by Rs2 per litre, respectively. The Ogra’s summary also recommended an increase of 29.5 percent or Rs13 per litre in the price of Kerosene oil and 17.6 percent or Rs7.75 increase in the price of Light Diesel Oil (LDO).

Currently, the government is collecting 29.5 percent GST on High Speed Diesel and 15.5 percent GST on Motor Spirit excluding High Octane Blended Component (HOBC), while there is zero GST on Kerosene and LDO.

The government will announce its decision regarding the Ogra’s recommendation on Sunday. Since February, the government has three times increased the prices of the Petrol and HSD in the country.

 

FAWAD YOUSAFZAI


    
 
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