The Oil and Gas Regulatory Authority (OGRA) has announced a new increase in prices of POL products across the country applicable from Friday.
According to a notification in this regard, the petrol (MS) price has been increased by Rs8.03 per litre, which would now sell at Rs145.82 per litre. Similarly, High Speed Diesel (HSD) has been increased by Rs8.14 per litre, which would now sell at Rs142.62. The Kerosene Oil would now sell for Rs116.53 per litre after an increase of Rs6.27 per litre. The LDO (Light Diesel Oil) would now cost Rs114.07 following an increase of Rs 5.72 per litre.
“On November 1, 2021, the Prime Minister had not agreed with the proposals worked out by OGRA and Finance Division and directed to maintain the prices as notified on October 16, 2021,” read the statement issued by the government.
It, however, added that maintaining the October 16, 2021 petroleum prices had some underlying concerns, for example cash flow issues due to the short recovery of the cost.
“It is important to note that in the previous petroleum prices, already a significant relief was provided to the consumers,” the ministry of finance said.
“The government is cognizant of its responsibility to provide maximum relief to the consumers. This has dented the petroleum levy budget of Rs152.5 billion during July-September 2021 as compared to Rs20 billion realised only.
“Foregoing in view, prices of petroleum prices have been increased partially as compared to the prices being worked out by OGRA.”
