Petroleum prices likely to go up by Rs10.5 thumbnail

Petroleum prices likely to go up by Rs10.5

The Oil and Gas Regulatory recommended on Tuesday a hike
in prices of petroleum products by up to Rs10.5.

A summary has been sent to Prime Minister Imran for
approval. If approved, the new prices will be applicable from September 16,
2021.

Following is what the Ogra recommended

  • Increase in High Speed
    Diesel price by Rs10.5 to Rs125.53
  • Increase in Petrol price by
    Rs1 to Rs119.30
  • Increase in Light Diesel
    price by Rs5.5 to 90.27
  • Increase in Kerosene Oil
    price by Rs5.5 to Rs92.3

The authorities argued that oil prices in the international market had gone up by $10 over the past month.

Ogra said that if the government wanted, it could opt to absorb the increase in petroleum prices by revising the rates of Petroleum Levy and GST.

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