OGRA proposes slight reduction in petrol price.

ISLAMABAD -- The Oil and Gas Regulatory Authority (Ogra) has suggested an increase of 1.9% in the price of high-speed diesel for February 2020, taking cue from fluctuations in crude prices in the international market.

According to an official, Ogra has sent its summary containing price recommendations to the Ministry of Energy (Petroleum Division), which will then forward the paper to the Ministry of Finance for approval. The government will take decision on price revision on Friday.

The regulator has proposed an increase of Rs2.47 per litre, or 1.9%, in the price of high-speed diesel, which is mainly used in transport and agriculture sectors. Any hike in its price would have a direct impact on the life of the masses as it will push up the rate of inflation.

With the revision, the price of high-speed diesel will go up to Rs129.73 per litre for February compared to the existing price of Rs127.26.

However, the regulator has suggested a nominal reduction of Rs0.06 per litre, or 0.1%, in the price of petrol, which is mainly used in cars and will benefit the common man.

If approved, the petrol price will edge down to Rs116.54 per litre compared to Rs116.60 for January. Petrol is an alternative fuel for compressed natural gas (CNG) and is mainly consumed by vehicles in Punjab where local gas is not available and CNG retail outlets are run on comparatively expensive imported gas.

Ogra has suggested an increase of Rs1.10 per litre, or 1.3%, in the price of light diesel oil, which is an industrial fuel. If the government accepts the recommendation, its price will rise to Rs85.61 per litre from the current Rs84.51.

However, Ogra has proposed a reduction of Rs0.66 per litre, or 0.7%, in the price of kerosene oil. Its price...