OGRA recommends Rs. 2.61 hike in petrol price
The Oil and Gas Regulatory Authority (OGRA) has recommended in a summary sent to the government that prices of petroleum (petrol) 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).
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If OGRA’s recommendations are approved, the revised rates for petrol and diesel would be Rs. 116.60 and Rs. 127.26, respectively, sources said.
Furthermore, the regulatory authority has recommended that the price of kerosene oil be raised to Rs99.45 and light diesel oil’s to Rs. 84.51, sources added.
On December 18, OGRA had proposed to the government an increase of up to 213.7 percent in gas price for domestic consumers from January 2020.