The Oil & Gas Regulatory Authority (OGRA) of Pakistan has sent its recommendations of raising the petroleum prices to the Ministry of Petroleum on Thursday. The prices are being considered to be hiked with an increase of R.s 6.93 per liter starting from January 2017 onwards due to a rise in global crude oil prices.
The global price rise is set to affect the prices of not only petrol but also kerosene oil, High-Speed Diesel, and Light Diesel Oil.
According to the price hike in the international arena, it was recommended that the prices of petrol and diesel will be increased by Rs. 0.31 and Rs. 3.94 respectively. While kerosene oil price is also set to be increased by Rs. 6.93.
Earlier, it was stated by sources that prices of petroleum products are likely to be increased up to Rs. 3.50 per liter starting from next year.
According to the summary presented by OGRA, consumers of High-Speed Diesel may face an increase of Rs. 3.94 per liter which would take the price to Rs. 79.16 per liter from the existing Rs. 72.52, while the petrol prices may increase by Rs. 2.31, taking the price to Rs. 68.58 per liter.
Kerosene oil, mostly used in cooking in remote areas may be increased from Rs. 43.25 to Rs. 50.18 per liter with an increase of Rs. 6.93 per liter.
Similarly, Light Diesel Oil, used for industrial purposes, may see a price hike of Rs. 3.48, meaning the price will go up from Rs. 43.34 to Rs. 46.82 per liter.
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