The Oil and Gas Regulatory Authority (OGRA) has recommended in a summary sent to the government that prices of petroleum products should be increased by up to 3.2% for January 2020.
It recommended the highest increase of Rs 3.10 per litre or 3.2% in the price of kerosene oil – a fuel used for cooking purposes – followed by a hike of Rs 2.61 per litre or 2.3% in the price of petrol, which is a transportation fuel that has an impact on the common man.
According to an official, OGRA has sent the summary to the Ministry of Energy (Petroleum Division), which will forward it to the Finance Ministry for approval. The government will take a decision on the summary today (Tuesday).
The regulator suggested an increase of Rs 2.25 per litre or 1.8% in the price of high-speed diesel, which is mainly used in transport and agriculture sectors. Any revision in the diesel price has a direct impact on the life of common man as it results in a rise in inflation.
OGRA also proposed an increase of Rs 2.08 per litre or 2.5% in the price of light diesel oil (LDO) for the month of January.
If the government accepts recommendations of the regulator, the petrol price will go up from the existing Rs 113.99 to Rs 116.6 per litre and diesel’s price will rise from the current Rs 125.01 to Rs 127.26 per litre.
