The Oil and Gas Regulatory Authority (OGRA) on Thursday denied any further increase in petrol and diesel prices.
Earlier in the day, a private media outlet had reported that the authority had recommended an increase in the price of petroleum products by Rs11.95 per litre from January 16. The report had also mentioned that the Petroleum Division had suggested increasing the price of diesel by Rs9.57 per litre, adding that a final decision in this regard would be taken by the Ministry of Finance headed by Dr Abdul Hafeez Shaikh after consultation with Prime Minister (PM) Imran Khan.
Earlier on December 31, the premier had approved an increase of Rs2.31 and Rs1.80 in the prices of petrol and diesel, respectively, contrary to OGRA’s recommendation of Rs10.68 and Rs8.37.
“While considering relief for the people, Prime Minister Imran Khan approved the minimum possible increase in prices of petroleum products against Ogra’s recommendations,” a Prime Minister’s Office (PMO) press release said.
OGRA had proposed an increase of Rs10.68 in petrol price and Rs8.37 in diesel price but the prime minister rejected the proposal in the public interest.
Similarly, OGRA had proposed an increase of kerosene oil price by Rs10.92 and light diesel oil (LDO) by Rs14.87 which the prime minister reduced to Rs3.36 and Rs3.95 respectively.
Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers, while the high-speed diesel (HSD) is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers, and so on, while LDO is consumed by flour mills and a couple of power plants.
