The Ministry of Energy (Petroleum Division) received a summary from the Oil and Gas Regulatory Authority (OGRA) on Friday that recommended an upward revision in oil prices. OGRA proposes Rs1.48 per litre increase in petrol priceThe OGRA recommended an increase of Rs 4.06 per litre (5.2 per cent) in the price of petrol, Rs 6.03 per liter (16 per cent) high speed diesel, Rs13.58 per litre (23.6 per cent) in the price of superior kerosene oil (SKO) and Rs12.49 per litre (24 per cent) in the price of light diesel oil (LDO). The PSO increased ex-refinery price of HSD by Rs 5.83 per litre and increase of Rs 0.21per litre in freight rates. According to OGRA recommendations, the budgeted petroleum levy is Rs 10 on Petrol, Rs 6.00 on SKO and Rs 3.00 per litre on LDO. Under the practice, oil prices are revised on December 31.

Source: The Express Tribune December 29, 2017 10:52 UTC