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Ogra predicts petrol prices to keep rising till March 2022

Senate standing committee calls Ogra oil mafia facilitator

SAMAA | - Posted: Oct 28, 2021 | Last Updated: 1 month ago
SAMAA |
Posted: Oct 28, 2021 | Last Updated: 1 month ago

Photo: AFP/File

The Oil and Gas Regulatory Authority (Ogra) has predicted further increase in the petroleum prices and told the Senate Standing Committee on Cabinet Secretariat that the prices of petroleum products will continue to go up till March 2022.

Chairman Ogra Masroor Khan briefed the committee about the increase in prices of petroleum products.

Khan said that the imported diesel costs Rs109 per litre at the port and, other expenses and taxes are additional Rs25.

The committee rejected the ogra chairman’s brief and questioned why the prices are increased every 15 days when the country has the capacity to store oil for 22 days.

JUI-F’s Senator Muhammad Talha Mahmood, who is heading the committee, called Ogra a facilitator of oil mafia and said that they would definitely use their prerogative for the public interest. The committee sought details of expenses incurred on per litre of diesel on petrol, and oil marketing companies’ margin.

Petroleum prices hike

On October 16, the government increased the petrol prices by Rs10.49 to record high of Rs137.79.

High-Speed Diesel price was increased by Rs12.49 to Rs134.48 per litre.

According to a notification issued by the ministry of finance, the price of kerosene oil reached Rs110.26 after an increase of Rs10.85. Light Diesel price also increased by Rs8.84. It is now available at Rs108.35 per litre.

There are reports that the petrol and diesel prices might go up by up to Rs9 when prices are revised on October 31.

Petrol subsidy for people from lower-income groups

The Petroleum Division has prepared a summary to provide cheap fuel to people from the lower-income groups. People with a maximum salary of Rs35,000 will be given a subsidy between Rs10 to Rs20.

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