ISLAMABAD: Prices of petroleum products are likely to witness upto Rs6 per litre hike during the next fortnight of ongoing January 2022 and petroleum division has received the working/suggestions of Oil and Gas Regulatory Authority (OGRA) in this regard.
Sources in the petroleum division informed that the division has received the working of OGRA regarding oil prices for the remaining fifteen days of the ongoing month of January 2022. And, the finance division in consultation with Prime Minister Imran Khan will announce final prices of petroleum products.
Sources said that the OGRA has suggested to increase the petrol price by Rs 5.50/litre, high speed diesel (HSD) Rs 5/litre, Light Diesel Oil (LDO) Rs 4/litre and Kerosene oil by Rs 6/litre for the remaining fifteen days of January 2022.
After getting the premier’s nod on future oil prices, the Finance Division will announce new oil prices on Saturday (15th January, 2022), said sources
They added that raise in the per litre prices of petroleum products will cause additional burden on the consumers as petrol is used in transport, small vehicles, rickshaws, two-wheelers and generators etc while HSD is used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, agri tube-wells etc. LDO is consumed by flour mills and a couple of power plants while kerosene is mostly used for lighting, cooking purposes in remote areas of the country.
Under the new mechanism, the government sets the oil prices every fortnight to pass on the impact of international prices to the consumers.
The government had earlier increased the price of petrol and high-speed diesel (HSD) by Rs4 per litre for the first 15 days of January 2022 and after the increase, the price of petrol increased from the previous Rs140.82 per litre to Rs144.82 per litre, while the price of high-speed diesel jumped to Rs141.62 per litre from the previous Rs137.62 per litre.
