ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has proposed raising the prices of various imported petroleum products from 1.8 percent to 3.2 percent for January 2020.
According to the report, the final decision will be taken today (December 31) by the finance ministry to keep prices of petroleum products on the eve of the re-election or raise prices for consumers.
Ogra has suggested a rise of Rs 61, or 2.3 per cent, at the price of petrol. If the government approves the increase, the price of petrol will rise from Rs 1,993 per litre to Rs 166 per litre.
Most vehicles, especially passenger vehicles, are using petrol as fuel, so the increase in the price of petrol will increase transportation fares across the country.
Fuel use as gasoline increased after a sharp decline in the availability of compressed natural gas (CNG).
In addition, OGRA proposes to increase the price of high-speed diesel (HSD) by Rs.25 paise or 1.8%, which is used in the transport and agricultural sectors, after the increase, the price of high-speed diesel will be Rs. The rupee is likely to rise from one paisa to Rs 27, 26 paise.
The above increase will increase the prices of agricultural products as well as the fares of Goods Transport.
It is to be noted that the government is already providing subsidy on low tariffs on tube wells used for agricultural purposes in Balochistan.
In addition, OGRA has proposed raising the price of kerosene by Rs 3 to 10 paise or 3.2 per cent for January 2020. If the government approves the proposed increase, the price of kerosene will rise from Rs. 96 to Rs. 35 paise at Rs.
OGRA has also proposed raising the price of light diesel oil (LDO) by Rs 2 to 8 paise or 2.5 per cent, which, if approved, would increase the price of light diesel oil from the current Rs 82 to Rs 43 paise.
Be aware that light diesel oil is commonly used in industries.