ISLAMABAD      -   The Oil and Gas Regulatory Authority (Ogra) has proposed an increase of Rs2.30 per liter in the price of high speed diesel (HSD) for the month of July 2019.

However, the regulator has recommended a decrease of Rs 0.77 per liter or 0.70 percent in the price of petrol, it was learnt reliably here.

In a summary moved to Petroleum Division, Oil and Gas Authority has recommended an increase in the prices of high speed diesel (HSD) and light diesel oil (LDO). While it has also recommended decrease in the prices of kerosene oil and motor spirit (petrol).

The Ogra has proposed a decrease of Rs 2.94 per liter or 3 percent in Super Kerosene Oil(SKO) and increase of Rs 0.26 per litre or 0.30 percent in the price of light diesel oil (LDO). OGRA has sent the summary to Petroleum Division for final decision.

If the government approves the recommendation of OGRA, the prices of petrol would be reduced from current Rs112.68 per litre to Rs 111.91 per liter. Petrol is used in vehicles.

Kerosene oil price would come down from current Rs98.46 per litre to Rs 95.52 per liter. Kerosene is used in those areas where LPG is not available for cooking purpose.

However, high speed diesel price would go up to Rs129.12 per liter from current price of Rs126.82 per liter. The high speed diesel is widely used in transport and agriculture sectors.

In case of approval of Ogra’s recommendations LDO price would also go up from current Rs88.62 to Rs88.8 per liter. LDO is used in industrial sector.

Against the standard 17 percent General Sales Tax currently the General sales tax (GST) on petrol stands at 13 per cent, 13 per cent on high speed diesel (HSD), while17 per cent on kerosene oil and on LDO both. The government is likely to announce the revised prices tomorrow (Sunday).