Oil and Gas Regulatory Authority or OGRA recommended government for the hike in petrol price by Rs 6.21 per liter.
OGRA recommended hike in petrol price for December 2018 by Rs 6.21 per liter. However, it is because of the multiple rounds of the devaluation of rupee against dollar. According to OGRA officials, the regulator sent summary to the Petroleum Division (Ministry of Energy) for notifying new petrol prices. In addition, PM Imran Khan will also take the decision about this matter on Friday (today).
However, OGRA proposed the hike of Rs7.79 per litre in light diesel oil (LDO), Rs2.00 per litre in high speed diesel (HSD), Rs6.21 per litre in petrol, and Rs9.91 per litre in kerosene oil.
Currently, government is taking 4.5% General Sales Tax (GST) on petrol, 1.5% on kerosene oil, 12% on HSD, but no tax on LDO. IN addition, OGRA analyzed the petrol prices based on the 17% GST.