ISLAMABAD - The Oil and Gas Regulatory Authority (Ogra) has recommended an increase of up to 43.93 percent in prices of different petroleum products, The Nation learnt here on Friday.

According to a summary moved to the Ministry of Petroleum and Natural Resources and the Ministry of Finance, the Ogra has proposed an increase of Rs19.33 per litre (43.93pc) in the price of kerosene oil and 32.05 percent or Rs14.10 per litre increase in the price of light diesel oil (LDO). The Ogra has proposed to increase the price of petrol by 3.30 percent or Rs2.36 per litre and high-speed diesel (HSD) by 2.84 percent or Rs2.20 per litre.

The government will announce its decision about the Ogra’s recommendations on Saturday. In case the government approves the Ogra’s summary, petrol price will go up to Rs73.86 per litre from current Rs71.50 per litre and diesel to Rs79.60 from current Rs77.40 per litre. The price of kerosene oil after an increase of Rs19.33 will go up to Rs63.33 per litre from the existing Rs44 per litre and the price of LDO will go up, if approved the increase of Rs14.10 per litre, to Rs58.10 from existing Rs44 per litre.

Currently, the government is collecting 30 percent general sales tax (GST) on HSD and 17 percent GST on motor spirit excluding high octane blended component (HOBC) while there is zero GST on kerosene and LDO.

For September, the Ogra had recommended an increase in the price of petrol by Rs2.24 per litre, HSD by 70 paisas per litre, kerosene oil by Rs15 per litre and LDO by Rs12 per litre. However, the federal government partially accepting the Ogra’s summary increased the price of petrol by Rs2 per litre while the prices of other petroleum products were not changed for September.