Tag Archives: Oil and Gas Regulatory Authority

Petrol Price Once Again To Meet Hike on February 1

Petrol Price Once Again To Meet Hike on February 1


Sumera Saeed | January 30, 2018 | category: News

Petrol Price Once Again To Meet Hike on February 1. The people of Pakistan are once again to bear the increase in the price of petroleum products.

The Oil and Gas Regulatory Authority (OGRA) has recommended an increase in the price of petroleum products. In this regard OGRA has sent summery to the federal government and proposed to increase the Petrol price up to Rs.2.98.

As per the OGRA recommendation the petrol price will increase up to Rs.2.98, Rs.12.74 increase is  suggested in the price of kerosene oil while the High-speed diesel will meet hike in Price o f Rs.10.25.

If the OGRA recommendation for the petrol price hike approved the Prime Minister Shahid Khaqan Abbasi then the new prices will be applicable from 1st February, 2018.

It is worth mentioning here that the government has gifted the nation with New Year gift by increase the petroleum products prices on 1st January, 2018.

On the other hand the petroleum products prices are also going to increase in UAE.   The petroleum prices in the UAE have been raised for February 2018.

Via

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Govt Set to Give New Year Gift by Soaring Petroleum Prices Upto Rs 13 Per Litre

Govt Set to Give New Year Gift by Soaring Petroleum Prices Upto Rs 13 Per Litre


Sumera Saeed | December 29, 2017 | category: News

Govt set to give new year gift by soaring Petroleum prices upto Rs 13 per litre. The incumbent government is all set to give new year’s costly gift to its masses as prices of petroleum are scheduled to be increased upto Rs. 13.

As final phase of the government’s period is going on and almost five months are left in completing its tenure, it is leaving no stone unturned to impose taxes and soaring prices of essential commodities. According to media reports, the petroleum prices would shoot up till Rs 13 on the eve of new year.

Majority of Pakistanis who belong to lower middle class, own motorcycle as their ride was already annoyed with increase of Petrol prices as during the last two to three months, the price of petrol has had been increased upto Rs 11n per litre so far.
The upward trend started when Petrol was being sold at Rs 68 per litre and now it is being sold at Rs 77. 47 per litre and after increase it will reach to almost Rs 82 per liter. This increase in Petroleum prices would not only affect the majority of motorcyclists but transporters who have increased fares on various long routes, would like to increase fares.
According to details, the fuel prices will go up as high as Rs 13. The authorities have decided to add Rs 4.06 in the per litre value of petrol. The price of high-speed diesel would be increased by Rs 5.83 per litre while there will be at least Rs 12.49 per litre increase in the price of light diesel.
The highest price spike will be seen in the rate of kerosene oil. Rs 13.58 per litre increase is likely to be witnessed in its price.

The formal approval to raise oil prices will be given by the Ministry of Finance after the Oil and Gas Regulatory Authority (OGRA) sends its summary.
The Ministry of Petroleum and Ministry of Finance will seek final approval from Prime Minister Shahid Khaqan Abbasi on petroleum products. It is worth mentioning that the government had hiked prices of petroleum products for the month of December.
During 2017 petrol price was up by 20.5 percent to Rs 77.47 per liter, high speed diesel was up by 18.5 percent to Rs 85.95 per liter, light diesel oil rose 20.25 percent to Rs 57.58 per liter and kerosene oil price was up by 33 percent to Rs 57.58 per liter.

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OGRA Proposes to Increase Petrol Prices by Up To Rs.10

OGRA Proposes to Increase Petrol Prices by Up To Rs.10


Sumera Saeed | December 27, 2017 | category: News

OGRA Proposes to Increase Petrol Prices by Up To Rs.10. We reported you earlier that the government has a plan to increase the petrol prices in the country with the beginning of the year 2018. And now the Oil and Gas Regulatory Authority (OGRA) has proposed to increase the petroleum products prices by Rs. 10 from January 2018.

The media reports revealed that the petrol price in Pakistan may increase by up to Rs.5.20 per liter in January 2018. The Pakistani rupee has brought down against the US dollar. The price of petrol sees surge in the international market as crude oil has seen $2 price hike per barrel internationally in the month of December.

The new Petrol Prices and other petroleum products will come into effect starting from 1st January 2018, if the federal government approved the OGRA suggestion.

Here is how much increase will be in petroleum products

  • 5.20 per liter in petrol prices
  • 6.00 per liter in light diesel oil (LDO)
  • 4.50 per liter in high-speed diesel (HSD) prices
  • 10.00 per liter in kerosene oil prices

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Natural Gas Prices Doubled For Domestic Consumers

Natural Gas Prices Doubled For Domestic Consumers


Sumera Saeed | December 22, 2017 | category: News

Natural gas prices doubled for domestic consumers.. The prices of natural gas for the domestic consumers have been increased by more than 100 percent and the consumers have received the first enhanced bill this month even the government has failed to maintain smooth and full pressure of the gas to the consumers in this winter season.

The price of the natural gas has been increased following the increase of the prices of all the gas fields and they had already increased their prices after the approval from the Oil and Gas Regulatory Authority (OGRA). The OGRA gave the approval in July this year to all 47 gas fields to increase the prices of gas by 111 percent and notification in this regard was issued accordingly.

The two main gas supply companies Sui Southern Gas Pipelines Limited (SSGPL) and Sui Northern Gas Pipelines Limited (SNGPL) have increased the prices from November this year and bills dispatched to consumers in the first week of December have been sent with more than 100 percent increase in the gas price.
A spokesman of the OGRA clarified that the increased allowed to gas fields with a view to meet their increasing expenditures and according they were allowed to increase the price of the natural gas being provided to the SNGPL and SSGPL, the main distributors of the gas to the domestic consumers. The government claimed that prices of natural gas in Pakistan are already very low as compared to the neighboring countries.
Pakistan has shortage of natural gas, and during the winter season, most of the domestic consumers remained without proper supply of the gas for two to three months in severe cold weather. The government has started import of LNG but still due to increasing demand in the gas both in domestic and commercial sectors, there is still shortage of the gas especially during the winter season.
The domestic consumers have expressed their concern and anguish over the new bills for the natural gas, which are almost double as compared to the previous months, even though they are not getting gas continuously with full pressure and people are forced to buy costly LNG through cylinders for even cooking purposes due to load-shedding of gas. Protests have become routine matter by the consumers against the government for load-shedding of the gas especially in morning and evening times when they need it for cooking purposes but the government has not been giving any attention to resolve this problem of the people.

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OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1

OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1


Sumera Saeed | March 30, 2017 | category: News

OGRA Wants increase in Petroleum Prices Up to Rs13 Per Litre From April 1

The Oil and Gas Regulatory Authority (Ogra) has Proposed to increase the price of Fuel in the country from 1st April, 2017.  In this regard Ogra has projected to Federal Government today on Thursday to increase the petroleum prices up to Rs13 per litre following fluctuations in global crude prices. Ogra has sent a summery to the Ministry of Petroleum and Natural Resources for increase the Petroleum product prices.

The final decision will be approved on Friday on the increase of Petroleum Prices.

New Prices of Petroleum Products:

Ogra had proposed an increase of Rs.2.28 per litre for petrol, Rs.2.04 for high-speed diesel (HSD), Rs.13 for kerosene oil and Rs.7.75 for light diesel oil (LDO).

After the increase the price of petrol will be of Rs75.28 per litre which is presently at Rs.73 while the price of high speed diesel will go up to Rs.84.04 per litre from the current Rs.82.

On the other hand the kerosene oil will be available at  Rs.57 per litre from the current of Rs.44 and the price of LDO will increase from Rs.44 to Rs.51.75 per litre.

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Now More General Sales Tax on Kerosene & Light Diesel Oil

Now More General Sales Tax on Kerosene & Light Diesel Oil


Sumera Saeed | January 2, 2017 | category: Autos and Vehicles

Now More General Sales Tax on Kerosene & Light Diesel Oil

Government has decided to remove the General Sales Tax (GST) on Kerosene & Light Diesel Oil. In an announcement government said that the GST that applies on all the petroleum based fuel sold in Pakistan will see a revision or complete removal. Government will only remove the GST on Kerosene oil and Light Diesel Oil (LDO) while the 14.5% GST on petrol has been left unchanged.

Government was collecting a 2% and 2.5% tax on kerosene and light diesel oil respectively, which is to waive off.  On the other hand the General Sales Tax on the other petroleum products will remain the same.

Petroleum Prices to Remain Same for January 2017

It is important to mention here that the government was earlier to increase the petroleum products prices up to Rs.7 on the proposal of Oil and Gas Regulatory Authority (OGRA), but later rejected the Ogra summery to remain the prices same for month of January.

Ogra Decides To Increase Petroleum Prices in January 2017

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Ogra Decides To Increase Petroleum Prices in January 2017

Ogra Decides To Increase Petroleum Prices in January 2017


Sumera Saeed | December 30, 2016 | category: Autos and Vehicles

Ogra Decides To Increase Petroleum Prices in January 2017

The Oil and Gas Regulatory Authority (Ogra) has decided to raise the petroleum prices in the country by January. Ogra said that the increase in petrol price is due to an uptrend on the global market.

In this regard Ogra has forward the summery to the Ministry of Petroleum, in which they showed that prices of kerosene and diesel were increased the most.

Ogra has made the calculation for the next month on the regular prices of petroleum products and the crude oil during the departing month. According to an official of Ministry of Petroleum, there is a traditional rise in prices of kerosene and the diesel fuels throughout November and December due to increase demands from most countries.

Ogra Proposed To Increase Petroleum Prices as mentioned below:

Ogra has proposed to increase Rs6.93 a litre in kerosene prices, which now stand at Rs50.18 a litre for January 2017.

On the other hand the price of high-speed diesel (HSD) has been raised by Rs3.94, to Rs79.16 a litre.

HSD is the top vending petroleum fuel in the country, as it is used by the large generators and heavy vehicle engines.

On the other hand the price of light diesel oil (LDO) has been increased by Rs3.48, to Rs46.82 a litre. LDO is consumed by the small engines and mills mostly operated in rural areas.

Though, a minimal surge of 31 paise has been intended by Ogra in petrol prices which have been raised to Rs66.58 a litre.

The three main aviation fuels including JP-1, JP-4 and JP-8 got the increase in price ranging between Rs4 and Rs6.

Though, a petroleum ministry official continued that the latest surge in global oil prices was generally due to a contract got by Organisation of Petroleum Exporting Countries (Opec) and some non-Opec members to decrease their production. However the contract is possible to begin from 1st January, 2017, as its impact is already visible.

The price of Opec basket of fourteen crude oils design to around $52 a barrel in December compared to around $43 a month earlier.

Simultaneously, the regular price of US benchmark West Texas Intermediate crude oil was $54 while the Brent crude was $56 a barrel in December.

In the same way, rates of oil fuel also increased in December. Officials guess that petroleum prices would remain to increase in January under the influence of global contract to cut oil production.

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Petroleum Prices to Remain Unchanged in November

Petroleum Prices to Remain Unchanged in November


Sumera Saeed | November 1, 2016 | category: News

Petroleum Prices to Remain Unchanged in November

We earlier reported you that the Government had allowed the import of the high Research Octane Number (Ron) 92. Pakistan State Oil (PSO) to import the Research Octane Number Ron 92 petrol in Pakistan in November 2016. The high quality fuel Ron 92 will be available for use in Pakistan in month of November and the government has decided to remain the petroleum price unchanged.

Prime Minister Nawaz Sharif has rejected the summary of the Oil and Gas Regulatory Authority (OGRA), which suggested raising the oil prices up to 15 % for November. OGRA proposed the petroleum price increase summery over the uptick of petroleum prices in International market.

PM said that the petroleum prices will remain unchanged in November and the government would bear the financial burden of four billion rupees.