ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has worked out up to Rs10.50 per litre hike in the price of petroleum products (POL) and forwarded its work to the petroleum and finance divisions for further necessary approval in this regard.
According to sources, already burdened masses should get ready to bear a heavy jolt in the form of a massive hike in the per litre price of petroleum products (POL) as OGRA has prepared a summary related to future oil prices and forwarded the summary to petroleum and finance divisions. Similarly, the finance division will announce the future oil prices in consultation with Prime Minister (PM) Imran Khan. The Finance Division will announce the new oil prices (POL) on September 15 for the remaining days of the current month, said sources.
“Finance Division has received the working of OGRA pertain to future POL prices and the new oil price will become effective across the country from 16th September 2021 after getting the PM’s nod,” said the sources.
As per details, OGRA has suggested the government approve an increase of Rs 10.50 per litre in the price of high-speed diesel (HSD), Rs1/litre in petrol price, and Rs5.50/litre hike in the price of kerosene oil. Similarly, the OGRA has worked out an Rs5.50/litre rise in the price of Light Diesel Oil (LDO) for the second half of the ongoing month of September 2021.
Sources also informed that new oil prices will become effective from tomorrow’s midnight across the country. The POL price hike summary has been prepared following the current levy and General Sales Tax (GST) imposed on POL prices, said the sources.