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Business & Finance

OGRA proposes price hike in POL products

  • The final decision on the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister.
14 Jan 2021

The Oil and Gas Regulatory Authority (OGRA) has recommended an increase in the prices of petroleum products.

According to reports, petroleum products may become more expensive from January 16, the recommendations of which have been sent by OGRA to the Petroleum Division.

As per details, under OGRA's recommendations, petrol could cost up to Rs 11.95 per liter and diesel up to Rs 9.57 per liter. The prices of petroleum products will be calculated on the base of Rs 30 per liter levy.

The final decision on the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister.

Weeks ago, Prime Minister Imran Khan approved increase of Rs. 2.31 and Rs. 1.80 in the prices of petrol and diesel, contrary to OGRA’s recommendation of Rs. 10.68 and Rs. 8.37 respectively.

The decision was taken keeping in view the government’s priorities for maximum possible steps to provide relief to the masses, a PM Office press release said.

The OGRA had proposed an increase of Rs. 10.68 in petrol price and Rs. 8.37 in diesel price but the prime minister rejected the proposal in public interest. Similarly, the OGRA had proposed increase of kerosene oil price by Rs. 10.92 and light diesel by Rs. 14.87 which the prime minister reduced to Rs. 3.36 and Rs. 3.95 respectively.