Tag Archives: petrol price

OGRA Suggests Increase in Petrol Price

OGRA Suggests Increase in Petrol Price


Sumera Saeed | November 29, 2017 | category: News

OGRA Suggests Increase in Petrol Price. The Oil and Gas Regulatory Authority (OGRA) has suggested increase in petrol price and the price of other petroleum products.

OGRA has recommended the federal government to increase petrol price and other petroleum products, according to sources.

The summery by OGRA has suggested Rs.1.48 increase in petrol price, while kerosene oil has a suggested increase of Rs.15.35, high-speed diesel of Rs.1 and Rs.13.15 increase for light-speed diesel.

The price surge of petroleum products has been suggested after sharp increase in crude oil price, according to an analyst.

Crude oil price has surged piercingly over the market assumption that the OPEC members meeting schedule for 30th November to meet in Vienna is possibly cut the daily oil supplies.

If the federal government approves the OGRA summery on the increase of petrol price and other petroleum products then the new prices will be applicable from 1st December 2017.

For further updates stay tuned with daytimes.pk

APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable

APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable


Sumera Saeed | November 2, 2017 | category: News

APBF Asks Govt To Cut Tax Ratio To Keep Oil Rates Stable. The All Pakistan Business Forum (APBF) has condemned the government for increasing prices of petroleum products up to Rs5.19 per liter, terming it bad news for the country’s economy, as this is third consecutive hike in fuel rates leading to increasing cost of production ultimately.

APBF President Ibrahim Qureshi said though the prices of oil in global market is going up yet the authorities can keep the rates stable by reducing tax ratio which is highest in the region.

The govt increased the price of petrol by Rs2.49 per litre. High speed diesel price was enhanced by Rs5.19 per litre, light diesel oil by Rs3 per litre and kerosene oil price increased by Rs5.19 per litre for November.

Petrol price will go up to Rs75.99 per litre from the current Rs73.50 per litre. HSD price has gone to Rs84.59 from current Rs79.40 per litre. The prices of kerosene oil, after an increase of Rs5.19, will go up to Rs53.19 per litre from the existing Rs48.00 per litre.

In the past, the government did not pass on the full benefit of declining oil prices to the public by imposing heavy taxes. It is the time to relax the duties and absorb the burden of soaring petroleum prices in international market by keeping the prices stable.

Ibrahim Qureshi, terming it a bad news for the country’s economy which was already facing a number of challenges, said that the increase would put extra burden on the consumers.

At a time when country’s trade deficit was further stretched by 34 percent during 2MFY18 to $6.3 billion owing to rise in imports and slow exports growth amidst high cost of doing business, the continuous hike petroleum as well as power tariff is very unfortunate.

He lamented that the National Electric Power Regulatory Authority (NEPRA) has recently enhanced the electricity and gas tariff which is dangerous particularly for the industry in Punjab.

The NEPRA had allowed an increase of 48 paisa per unit in the average electricity tariff for Discos for 2015-16, allowing them to put an additional burden of more than Rs 24.34 billion on consumers.

He said that APBF had always been calling on the concerned government circles to take measures for the promotion of alternate fuels as trade deficit was fast widening due to heavy imports under the head of petroleum products. He said that rise in PoL prices is bound to give a further blow to the industry.

For further updates stay tuned with daytimes.pk

Petroleum-Prices

OGRA Likely to Decrease Petroleum Prices


Sumera Saeed | May 29, 2017 | category: News

The Oil & Gas Regulatory Authority (OGRA) has a plan to decrease the petroleum prices. In this regard they has outlined a summary and sent the recommendation to Petroleum Ministry.

The outlined summery by regulatory authority has suggested that the petrol price should be decreased by Rs 2.10 per liter, Rs 1.80 per liter reduction in high speed diesel, Rs 1.50 per liter in light speed diesel while the price of Kerosene oil is also likely to drop by Rs 3 per liter.

According to sources the new petroleum prices will be applied from 1st June 2017, after the approval of Ministry of Finance.

Petroleum Prices to Remain Same for January 2017

Petroleum Prices to Remain Same for January 2017


Sumera Saeed | December 31, 2016 | category: Autos and Vehicles

Petroleum Prices to Remain Same for January 2017
Yesterday we reported that Ogra decided to increase the petroleum price by Rs.6.93 a litre for January 2017. But today it has been reported by the TV channels that government has rejected the proposal of Orga for the increase in the petrol price and said that the prices will remain the same for the month of January 2017.

Ogra Decides To Increase Petroleum Prices in January 2017

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.

 

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Petrol Pumps Start Selling Ron 92 Petrol in Pakistan

Petrol Pumps Start Selling Ron 92 Petrol in Pakistan


Sumera Saeed | November 3, 2016 | category: News

Petrol Pumps Start Selling Ron 92 Petrol in Pakistan

The sale of Ron 92 petrol is now starting in Pakistan. The higher quality petrol Ron 92 will replace the low quality petrol Research Octane Number 87 across the country till 20th November, 2016.  The new high quality petrol offers better engine efficiency and reduces the environment impact due to lower emission.

The Economic Coordination Committee (ECC) of the cabinet had approved the marketing of the high quality petrol Research Octane Number (Ron) 92 in the country. The petrol price will be raised of Rs.2.75 per liter.

The petroleum ministry has planned to import the three different grades of high quality petrol including RON 92, RON 95 and RON 97.

Ron 92 Petrol Will be in Pakistan in November 2016

The local refineries in the country will produce the Research Octane Number 87/90 petrol to mix it with the high quality petrol to create 91 RON petrol in order to supply it to the petrol pumps across the country.