Ogra recommends Rs13.4 per litre hike in HSD price.
Byline: Fawad Yousafzai
ISLAMABAD -- The Oil and Gas Regulatory Authority (Ogra) Tuesday recommended an increase of Rs 9.20 per litre in motor spirit (petrol) price and Rs 13.40 per litre in high speed diesel (HSD) rate for November 2018.
In a summary forwarded to Petroleum Division and Ministry of Finance, the Ogra has recommended upward revision in the prices almost all the petroleum products, sources said.
For the month of November, OGRA has also proposed an increase of Rs 6.47 per litre or 7.75 percent in the price of super kerosene oil (SKO) and Rs 6.48 per litre or 8.53 percent in the price of light diesel oil (LDO).The regulator has recommended an increase of Rs 9.20 per litre or 9.91 percent in the price of petrol and Rs 13.40 per litre or 12.57 percent in the price of HSD.
If government approves the Ogra summary regarding increase in petroleum products, the price of petrol would increase from Rs 92.83 per litre to Rs 102.03 per litre and HSD from Rs 106.57 litre to Rs 119.97 per litre. The prices of kerosene oil would go up from Rs 83.50 per litre to Rs 89.97 per litre and price of LDO would increase from Rs 75.96 per litre to Rs 82.44.
High speed diesel is being used in agriculture and transportation, kerosene oil is used in remote areas where LPG was not available for cooking purposes. The LDO is used in industry.
It is pertinent to mention here that Pakistan Tehreek-e-Insaf (PTI) government had reduced oil prices by up to 5.6 percent for September. The price of HSD was reduced by Rs6.37 per litre from Rs112.94 to Rs106.57 per litre. The price of petrol was reduced by Rs 2.41 per litre or 2.5 percent. After the reduction, the petrol price came down to Rs 92.83 from Rs 95.24 per litre. Similarly super kerosene oil was reduced by Re 0.46 per litre or 0.55 percent .The price of super kerosene oil (SKO) was reduced to Rs 83.50 per litre from Rs 83.96 per litre. However, the price of light diesel oil (LDO) was increased by Re 0.59 per litre or 0.78 percent. With the increase, the price of LDO was increased to Rs 75.96 from the current Rs 75.37 per litre.
For the month of October, OGRA had recommended an increase of Rs4.10 per litre in the price of petrol and Rs4.41 per litre for HSD, Rs3.66 in kerosene oil and Rs 3.39 per litre in LDO. However, the government rejected Ogra's recommendations and kept the prices unchanged.
For the month of October, against the standard GST of 17%, the government is charging 17.5 percent sales tax on HSD, 4.5 percent on motor spirit and 1.5 percent on kerosene oil. While for October, the government has exempted light diesel oil (LDO) from GST for the month of October. The government will announce new prices of petroleum products on October 31 (today).