The Oil and Gas Regulatory Authority (OGRA) proposed the caretaker government to increase the petrol prices up to 16.9% citing to the devaluation of rupees against the dollar and rising of global crude oil rates.
Ogra sent a summary to the Ministry of Energy on Wednesday with a recommendation for an upward revision in petroleum. The regulatory have massively increased the prices of petroleum products. The recommended increase in prices on petrol is Rs7.54 per liter, diesel by Rs14 per liter, kerosene oil by Rs3.36 per liter and light diesel oil by Rs5.92 per liter.
The government is charging a very high sales tax on Petroleum products as about 31% on diesel and 17% of high sales tax on others. Also to keep in mind, The caretaker government had already increased prices Rs4.260 per liter, diesel by Rs6.55/litre and kerosene by 4.46/litre on 11 June but seems like they weren’t done with sucking our blood.
New prices will be effective immediately from 1st July 2018.
|Product||Old Price||New Price|
|RON 92 Petrol||91.96||99.50|
|Light Diesel (LSD)||74.99||80.91|