An increase up to 12.8% in oil prices is expected due to instability in global oil prices for April 2019.
On Friday a summary was moved to the Petroleum Division in which the Oil and Gas Regulatory Authority (OGRA) planned that the price of petrol would be raised by Rs11.98 per litre and high speed diesel prices be increased by Rs11.17 per litre or 10% for the coming month.
The regulating authority has also appealed to increase kerosene oil prices by Rs6.65 per litre or 7.7%. Moreover, Rs6.49 per litre rise is suggested for light diesel oil (LDO).
If this proposal is accepted by the government then the price of petrol will go from Rs92.89 to Rs 104.80 per litre, the diesel prices would hike from the current Rs111.43 to Rs122.60 per litre, kerosene oil’s price will increase from Rs86.31 to Rs92.96 per litre and the LDO would go up to Rs84.03 from Rs77.54 per litre.
The decision will be taken by the government on Sunday on OGRA’s recommendation.
Currently, the government is charging Rs14 per litre petroleum levy on petrol, Rs18 per litre on high speed diesel, Rs6 per litre on kerosene oil and Rs3 per litre on light diesel oil. Government is also taking billions of rupees on account of general sales tax from the consumers.
The increase in diesel prices would greatly impact the lives of common people because of the inflationary impact as diesel is extensively used in the agriculture and transport sectors. The usage of kerosene is common for cooking purposes in rural areas where LPG is not available. The petrol is used in vehicles.