ISLAMABAD: A special “new year gift” awaits Pakistanis as the Oil and Gas Regulatory Authority (OGRA) has suggested up to Rs3.10 per litre hike in the prices of petroleum products for the month of January 2020.
According to sources, the regulatory authority (OGRA) has worked out Rs2.25 per litre increase in the price of high-speed diesel (HSD), Rs2.61 hike in the price of petrol, Rs3.10 in the price of kerosene oil and Rs2.08 in the price of light diesel oil for the upcoming month of January 2020. A summary in this regard has been forwarded to the Petroleum Division.
Sources said that OGRA had suggested a hike in the prices of petroleum products after holding detailed consultations with the country’s oil marketing companies. They said that the Petroleum Division would forward the oil prices summary to the finance ministry for a final decision in this regard.
“The Ministry of Finance will then announce the final decision regarding oil prices after getting the nod from Prime Minister Imran Khan,” sources said. “The finance ministry will also take a decision on the ratio of taxes and levies imposed on oil prices before announcing the final decision.”
It is pertinent to mention that if PM khan approves to pass on the suggested hike in oil prices, then petrol would be available at Rs116.6 per litre, HSD would be available at Rs127.26 per litre, kerosene oil at Rs99.45 and light diesel oil at Rs84.51 per litre in the open market.
Meanwhile, Liquefied Petroleum Gas (LPG) Distributor Association Chairman Irfan Khokar said on Monday that LPG prices would witness a record hike from January next year, as necessary preparations to jack up LPG prices have been done by OGRA.
“In line with the increase in the international market, OGRA has worked out a hike of Rs20 per kilogramme in the price of LPG which will be effective from 1st January 2020,” he announced.
He said that after the proposed Rs20 per kg hike in price, LPG price would reach at Rs150 per kilogramme in Pakistan. He said OGRA would jack up the price of each domestic gas cylinder by Rs250 and price of each commercial cylinder by Rs900. “As a result of this hike, the price of each domestic cylinder will be Rs1,760, and that of a commercial cylinder will be Rs6,810 from 1st January 2020.”