The Oil and Gas Regulatory Authority (OGRA) operated out up up to 28.44 rupees per liter in prices of petroleum products with effect from August 1st.
Sources in in regulatory body revealed that based on on in current rate of oil surcharge (PL), settlement ex-depot price of gasoline can climb up by 6.53 rubles per liter,speed diesel fuel (HSD) at Rs 28.44 per liter, kerosene (SKO) at Rs 11.02 per liter and light diesel fuel (LDO) at 5.64 rupees per liter.
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The finance department will move Summary on Saturday (today) looking for up to an estimated 11 percent increase in oil prices with effect from August 1st. As usual, final decision in this issue will be considered prime minister.
Similar price of gasoline and HSD will go further up if government includes Rs 7 per liter petrol dealer margin in pricing structure. A day earlier, the Economic Coordinating Committee (ECC) approved an increased margin of oil traders. The oil department assured dealers that government will realize margin with effect from August 1, 2022.
These indicative prices rate of petrol up Rs 230.24 to Rs 236.77 per liter, HSD Rs 236.00 to Rs 264.44 per liter, SKO Rs 196.45 to Rs 207.47 per liter and LDO Rs 191.68 to Rs 197.32 per liter .
It is noteworthy that the increase in prices of oil products are in line with hike in them international price.
Currently PL on gasoline costs 10 rupees per liter, on HSD, SKO and LDO at Rs 5 per liter each, while sales tax zero.
In this regard, the National Assembly approved rise in in maximum limitation of PL from 30 rupees per liter to 50 rupees per liter in to achieve the budget goal of 750 billion rupees set in Finance bill for 2022-2023.
However, sources in The oil division was of in view what government unlikely to receive 750 billion rupees from PL in in current financial year in current rate because that would mean maximum collection of 14 billion rupees per month.
In addition, the income deficit of Probably 45 billion rupees per month if 17 percent general sales tax (GST) not slammed on these products.