It seems that the increase in the prices of petroleum products has become a never ending phenomenon in Pakistan. It is reported that the Oil and Gas Regulatory Authority (OGRA) has once again recommended an increase in the prices of petroleum products and sent the proposal to the government.
Citing the increase in the international oil prices, OGRA suggested that the burden must be shifted on to the consumers. OGRA has recommended to increase the price of petrol by 6.11% per liter, high speed diesel (HSD) by 5.55% per liter, and light speed diesel (LSD) by 29% per liter. The price of kerosene oil is expected to experience a surge of 38.63% per liter.
It is important to note that consumers in Pakistan have been paying more for petroleum products compared to the consumers in other markets. According to the Express Tribune, consumers in Pakistan have been paying 38% higher prices for petroleum products compared to the prevailing prices in the international markets.
OGRA has only submitted the proposal to the ministry for approval and the finance ministry will make the final call. In any case, we’ll continue to track the changing trends of oil prices in Pakistan and will update our readers accordingly.