The Oil and Gas Regulatory Authority (OGRA) has sent a summary for change in prices of petroleum products to the Petroleum Division on Monday.
According to the media reports, the following oil prices have been suggested in the summary.
- An increase of Rs. 2.61 per liter in the petrol price.
- An increase of Rs. 2.25 per liter in diesel price.
- An increase of Rs. 3.10 per liter in kerosene oil price.
- An increase of Rs. 2.08 per liter in light diesel.
If the recommended changes are approved, then the new prices of the petroleum products from January 1, 2020, will be as follows:
- Petrol: Rs. 116.60.
- Diesel: Rs. 127.26.
- Kerosene oil: Rs. 99.45,
- Light diesel oil: Rs. 84.51.
The government revises the prices of petroleum products every month in view of global prices. Last month, the regulator had recommended a nominal reduction in the prices of petrol by Rs. 0.25 or 0.2 percent.
It is worth mentioning that the crude oil price in the international market on December 30th was $62.08 per barrel and Brent Oil’s price was $67.38 per barrel.