ISLAMABAD - The Oil and Gas Regulatory Authority (Ogra) on Tuesday recommended up to Rs8.90 per litre (10.043 percent) increase in the prices of various petroleum products for the month of August 2019.

In a summary moved to the Petroleum Division, Ogra has proposed an increase of Rs5.15 per litre in petrol price and Rs 5.65 per litre in the price of High Speed Diesel.

Similarly in its summary, Ogra has also recommended the government for increasing Kerosene oil price by 5.38 per litre and Light Diesel Oil (LDO) by Rs8.90 per litre. Ogra has sent the summary to Petroleum Division which will forward it to finance division for final decision.

If the government approves the recommendation of Ogra, the prices of petrol would go up from current by 4.57 per cent from the current Rs112.68 to Rs117.83 per litre and diesel price would increase by 4.45 per cent from the existing Rs126.82 to Rs132.47 per litre.

Rs5.15 increase in petrol, Rs5.65 in HSD price proposed

The Kerosene prices would go up by 5.46 per cent to Rs103.84 per litre from current price of Rs98.46 per litre. LDO price would also go up by 10.043 per cent from current Rs88.62 to Rs97.52 per litre. At present, government is charging standard GST rate of 17 on all petroleum products. The government is also charging petroleum Levy of Rs18 on HSD, Rs15 on Petroleum, Rs6 on Kerosene Oil and Rs3 on LDO.

For the month of July, OGRA had proposed last an increase of Rs2.30 per litre in the price of High Speed Diesel(HSD) and a decrease of Rs0.77 per litre or 0.70 per cent in the price of petrol. Similarly, Ogra had proposed a decrease of Rs2.94 per litre or 3 per cent in Super Kerosene Oil(SKO) and increase of Rs0.26 per litre or 0.30 per cent in the price of light diesel oil (LDO). However rejecting Ogra’s summary for revision of oil prices, the government had kept the prices of petroleum products unchanged for the month of July 2019.

The Brent oil price in international market on July 30 was recorded at $64.03 per barrel which was earlier in April and June was hovering near $72 per barrel.

The finance division with the consultation of the prime minister will announce the new prices of the petroleum products today (Wednesday).