Islamabad  -   OGRA has recommended an increase of Rs 11.92 per litre in the price of petrol and Rs 11.17 per litre in the price of high speed diesel for the month of April, it is learnt reliably here Friday.

In a summary to the Petroleum and Finance Division, Oil and Gas Regulatory Authority has recommended an increase in the prices of almost all the petroleum products.

Ogra has recommended an increase of Rs 11.17 per litre (10.02 percent) in the price of high speed diesel (HSD), Rs 11.92 per litre (12.83 percent) in the price of petrol, Rs 6.65 per litre (7.70 percent) in kerosene oil and Rs 6.49 per litre (8.37 percent) in light fiesel oil, said the source.

Ogra has recommended increase in oil prices mainly due to jump in the crude oil prices in international market and rupee depreciation against the dollar, said the source. The rupee depreciation impact is around Rs2 per litre in HSD and petrol prices while the remaining increase was due to increase in crude oil prices. On 28th March the crude oil price was around $66.67 per barrel.

Ogra was directed by the government to make their recommendations regarding POL prices on the basis of new petroleum levy rates which was increased by 175 percent by the present government.

If the Ogra recommendations would have been based on the petroleum levy of December level then the HSD and petrol prices would have remained unchanged, said the source.

It is pertinent to mention here that earlier petroleum levy on HSD was Rs8 per litre and petrol Rs10 per litre but from January 1st the government has enhanced the PL. Since February 1st the consumers are paying Rs22 per litre PL on HSD, Rs18 per litre on petrol (motor gasoline), Rs6 on kerosene oil and Rs3 on LDO.

For February also Ogra had recommended an increase of Rs 9.12 per litre in the price of high speed diesel, Rs4.71 in the price of petrol, Rs8.06 per litre in kerosene oil and Rs5.12 in light diesel oil, said the source.

If the government approved the Ogra’s recommendation then the price of petrol will go up to 104.80 per litre from the existing price of Rs92.89 per litre, HSD from the existing 111.43 per litre to Rs122.60 per litre, kerosene oil from 86.31 per litre to Rs92.96 per litre and LDO from Rs77.54 per litre to Rs84.03 per litre.