Oil and Gas Regulatory Authority (OGRA) has proposed another hike in petrol price in Pakistan. The media reports stated today that the authority has sent a summary to the federal government in this regard. Quoting sources, the reports suggested that OGRA has sent two suggestions to the government.
Firstly, the authority has suggested 2% and 5% General Sales Tax (GST) on petrol and diesel, respectively, along with a 5-10% petroleum levy on diesel. If the government imposes 2% GST on petrol, its price will increase by Rs. 5.44/per liter. In case of 5% GST, the petrol will see a jump of Rs. 13.60/per liter from tomorrow. Meanwhile, an increase of Rs.10-15/liter in diesel price has also been suggested.
According to sources, OGRA has also suggested maintaining the prices for next fortnight. The global fuel prices have come down in the last 15 days and currently stand at $74/barrel.
Secondly, OGRA has suggested imposing new taxes as per global market trends to keep the price unchanged. The final decision about fuel prices will be made after consultation with the finance minister and prime minister.
Last Hike in Petrol Price in Pakistan
On February 15, the petrol price in Pakistan was increased by Rs. 22.20 per liter, and the new prices were applicable from February 16, 2023. As per the Finance Ministry, the price of High-Speed Diesel (HSD) was also increased by Rs. 17.20 per liter.
This is how much the prices of petroleum goods had increased, Petrol Rs. 22.20. High-Speed Diesel (HSD) Rs. 17.20, Kerosene Oil Rs. 12.90, and Light-Speed Diesel (LDO) Rs. 9.68.
Meanwhile, the new fuel prices in Pakistan are:
Petrol Rs. 272
High-Speed Diesel (HSD) Rs. 280
Kerosene Oil Rs. 202.73
Light-Speed Diesel (LDO) Rs. 196.68
Another hike in petrol price in Pakistan is not good news for the people of Pakistan; hopefully, the government will decide to keep it unchanged.
What do you think about another possible increase in petrol price in Pakistan? Please share your thoughts in the comments section.
if on 272 no effect on people so another hike will also be same