Up to 9pc hike in POL prices proposed
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) recommended on Monday up to 9 per cent increase in the prices of petroleum products for the next 15 days to pass on the impact of rebounding international oil prices, with diesel prices again moving beyond Rs101 per litre.
According to a summary sent by Ogra to the government, the highest increase of Rs7.66, or 8.9 per cent, has been proposed in the price of petrol to Rs93.56 pet litre.An increase of Rs7.64, or 6.8 per cent, has been suggested in the price of High Octane Blending Component (HOBC), which will be available at Rs120.16 pet litre.
Kerosene price has been worked out to increase by Rs4.64, or 5.26 per cent, to Rs92.83 per litre.
The price of High Speed Diesel (HSD) will go up by Rs4.58, or 4.7 per cent, to Rs101.79 per litre.
The price of light diesel oil has been worked out to rise by Rs4.78, or 5.6 per cent, to Rs90.11 per litre.
The price of JP-1 has been proposed to go up by Rs4.44, or 5.7 per cent, to Rs82.36 per litre, JP-4 by Rs4.73, or 6.8 per cent, to Rs74.04 per litre and that of JP-8 by Rs4.45, or 5.7 per cent, to Rs82.05 per litre.
Currently, the government is charging Rs10 per litre petroleum levy on petrol, Rs14 on HOBC, Rs6 on kerosene and Rs8 on HSD.
In addition, the government also collects 16 per cent general sales tax on all products that fluctuates between Rs14 and Rs17 on various products according to change in prices.