Probably from March 1, petrol prices will go up.

Introduction to OGRA’s Proposal Petrol Prices

The Oil and Gas Regulatory Authority (OGRA) has put forward a proposal for adjusting petroleum product prices. This move comes in response to the climbing global oil prices and looming revenue challenges. The authority’s suggestions aim to realign domestic fuel prices with international trends, ensuring economic stability.

Proposed Petrol Prices Increase

In the proposal, OGRA has outlined a specific increase for petrol. They recommend a hike of Rs 3.44 per liter, potentially setting the new price at Rs 195.61 per liter. This adjustment reflects the broader economic pressures and the need to stabilize the market.

Adjustments for Diesel and Kerosene

The document also addresses diesel and kerosene prices. For diesel, used widely across various sectors, a Rs 1 increase per liter is suggested, which would adjust its price to Rs 207.75 per liter. Kerosene, essential for lighting and heating in less accessible areas, is similarly slated for a Rs 1 increase per liter, bringing its price to Rs 178.52 per liter.

Reduction in Light Diesel Oil Prices

An interesting aspect of OGRA’s proposal is the recommended decrease in the price of light diesel oil (LDO). While the precise amount of the reduction is not detailed, this move seems aimed at easing the burden on certain consumer segments and industries reliant on LDO.

The decision rests with Ministry of Finance

It’s important to note that these are preliminary recommendations. The final decision rests with the Ministry of Finance, which will consider a variety of factors. These include global oil market dynamics, domestic revenue requirements, and the potential impact on the populace. The ministry’s decision will significantly influence the domestic economic landscape, affecting everything from transportation costs to the cost of living. Pakish News

Comments

comments