Fuel prices likely to go up from Jan 1

The fuel prices are likely to go up in the country from January 01, 2020, after Oil and Gas Regulatory Authority (Ogra) has recommended a hike in prices.

According to sources, the petrol prices from January 01 are likely to be increased by Rs 2.76 per litre while diesel will go up by Rs 3.12 per litre.

The Ogra has conveyed a summary to the petroleum division for changes in fuel prices for 15 days from January 01. However, a final decision in this regard will be made by the petroleum division after consultation with Prime Minister Imran Khan.

On December 15, Pakistan’s oil regulatory body announced an increase of Rs3 per litre on petrol, which now sell at Rs103.69 per litre, in its bimonthly petroleum product pricing exercise.

Prices of Hi-speed diesel, after Rs3 per litre hike, now sold at 108.44 per litre while other products such as Kerosene oil saw Rs5 per litre jump in retail.

The lowest surge was noted in Low-speed diesel with Rs2 per litre as it is sold for Rs67.86 per litre acorss Pakistan.

It may be noted that these new prices are applicable from Dec 16 onwards and will remain the same for the rest of the year.