Ogra New Petroleum Prices 1st October 2017 Announced .Ogra New Petroleum Prices 1st October 2017 Announced.In view of the fluctuation in global oil prices, the government on Saturday announced an increase of up to Rs4 per litre in prices of all petroleum products. The new prices will be effective for a period of one month starting from October 1 (today), according to a statement issued by the Ministry of Finance.
- MS 92 RON Petrol: Rs. 73.50 / Litre
- High Speed Diesel (HSD): Rs. 79.40 / Litre
- Light Diesel Oil (LDO): Rs. 46.00 / Litre
- Kerosene Oil: Rs. 48.00 / Litre
The Oil and Gas Regulatory Authority (Ogra) had recommended an increase of Rs2.35 per litre in the price of petrol [MS 92 RON], Rs2.17 in the price of high speed diesel (HSD), Rs19.32 litre in the price of kerosene oil and Rs14.09 in the price of light diesel oil (LDO).
However, after deliberation the prime minister approved an increase of Rs2 each in the prices of petrol, the HSD and the LDO, while the price of kerosene oil is increased by Rs4 per litre. The price of petrol now stands at Rs73.50 per litre; of the HSD Rs79.40 per litre, the LDO Rs46 per litre and kerosene oil Rs48 per litre.
The government has had the room to absorb impact of oil price increase as it is still collecting heavy taxes on the sale of petroleum products. It receives more than Rs25 billion in general sales tax on petroleum products and Rs10 billion in the shape of petroleum levy from consumers every month.
Consumers in Pakistan have been paying up to 38% more on oil purchase compared with prices prevailing in the international market in order to make up for the shortfall in government revenues.