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Sharp increase in Pakistan petrol prices expected for February

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ISLAMABAD: The Oil and Gas Regulatory Authority has reportedly recommended a Rs12 per litre increase in the price of petrol and Rs10 per litre increase for diesel in its latest summary sent to the petroleum division on Friday.

The Pakistan government had increased the prices of petroleum products twice after every 15 days in January.

Sources in the petroleum division are saying  Ogra prepared its summary on the basis of a levy of Rs30 per litre. Currently, the levy on petrol is Rs21.56 per litre and Rs23.9 per litre on diesel.

The final decision will be taken by the Ministry of Finance headed by Dr Abdul Hafeez Shaikh after consultation with Prime Minister Imran Khan.

The government can reduce the proposed increase to a very low level by not increasing the levy or it can maintain the current prices of petroleum products with a slight reduction in the levy.



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