Oil and Gas Regulatory Authority (OGRA) has rejected the media reports suggesting that it has sent a summary for the petrol price hike. In a statement, OGRA said the news about price hike for petroleum products is speculative. The spokesperson of OGRA stated that such speculative news could lead to the petroleum products purchase in chaos. Henceforth, such speculations must be avoided, he asserted.
Hence, it seems that petrol prices will remain the same till the end of March.
Earlier, it was reported that the authority has sent a summary to the Petroleum Division, recommending a Rs5.50 increase in petrol price per litre and Rs6 for diesel. It was also reported that OGRA prepared a summary based on the existing Petrol Levy (PL). The current PL on petrol is Rs12.65 per litre and Rs12.53 per litre on Diesel.
PM Khan Rejected Price Hike:
Last month, Prime Minister Imran Khan rejected OGRA’s summary for the price hike. Commenting on the development, Special Assistant to the Prime Minister on Political Communication Dr Shahbaz Gill said the price would remain the same. In a tweet, he said that OGRA has suggested Rs6-7 price hike but PM Imran Khan turned it down.
He further added that the rates of petroleum goods are constantly increasing in international market, still PM Khan didn’t allow the hike.
اوگرا نے تقریباً 6 سے 7 روپےفی لیٹر تک پٹرولیم مصنوعات کی قیمت بڑھانے کی تجویز کی۔ وزیراعظم عمران خان نے یہ تجویز منظور نہیں کی۔ پٹرولیم مصنوعات کی قیمتوں میں کوئی اضافہ نہیں کیا گیا۔ عالمی مارکیٹ میں پٹرولیم مصنوعات کی قیمتوں میں مسلسل اضافے کے باوجود وزیراعظم نے اجازت نہیں دی pic.twitter.com/Xwmn3EuhGc
— Dr. Shahbaz GiLL (@SHABAZGIL) February 28, 2021
Petrol Price Hike on Feb 1:
The federal government had increased the petrol prices by Rs2.70 per liter on February 1st. According to a notification by the Ministry of Finance, the prices of petroleum products were revised for the next 15 days.
It is pertinent to mention that was the third price hike in the last month-and-a-half.
Current Prices:
The current price of petrol is Rs111.90, as compared to its old rate of Rs109.20 per litre. Meanwhile, the price of High-Speed Diesel was increased by Rs2.88 per litre; hence, it is now being sold at Rs115.83, against its old price of Rs112.95 per litre.
Furthermore, the price of Kerosene Oil was increased by Rs3.54 to Rs80.19 per litre, while Light Speed Diesel Oil (LDO) was increased by Rs3, and its current rate is Rs79.23 per litre.
