Islamabad - The Oil and Gas Regulatory Authority (OGRA) on Wednesday recommended to the government up to 13 percent increase in the prices of different petroleum products for April.

According to the summary forwarded to the Ministry of Petroleum and Natural Resources, OGRA recommended Rs 3.09 per litre increase in the price of petrol.

It also recommended increase of Rs 1.40 per litre or 1.96 percent in the price of High Speed Diesel (HSD), Rs 4.91 per litre or 12.93 percent increase in the price of Light Diesel Oil, Rs 5.64 per litre or 13.06 percent increase in the price of Kerosene oil.

Similarly the authority also recommended 6.42 percent or Rs 4.67 per litre increase in the prices of High-Octane Blended Component (HOBC).

If approved, the new price of Motor Spirit (Petrol) will be increased from the current Rs 62.77 per litre to Rs 65.86 per litre; the price of High Speed Diesel will jump to Rs 72.52 per litre from the current Rs 71.12 per litre; Light Diesel Oil price will reach up to Rs 42.88 per litre from the existing Rs 37.97 per litre.

The price of Kerosene will jump from Rs 43.25 per litre to Rs 48.89 per litre, while the price of High-Octane Blended Component (HOBC) will reach up to Rs 77.35 per litre from Rs 72.68.  

OGRA has worked out the proposed increase on the basis of imported oil prices, provided to it by the oil marketing companies.

The Ministry of Petroleum and Natural Resources will send it to the Ministry of Finance, which will then seek final approval from the prime minister.

It is pertinent to mention here that for February, OGRA had recommended decrease of Rs 7.56 in the price of petrol, Rs 10.15 per litre decrease in the price of High Speed Diesel and High Octane and Rs 8.17 decrease in the price of Kerosene Oil.

However, ignoring the OGRA recommendations, the government passed on the relief of only Rs 5 to the consumers in all categories of the POL products.

But in March, the government slashed the prices of petrol by Rs 8.48 per liter, High Speed Diesel by Rs 4.67 a liter, while Light Diesel Oil and Hi-Octane by Rs 1.97 and Rs 2.98 per liter, respectively.