ISLAMABAD: Costs of petrol and high-speed diesel are more likely to rise in November 2019 consistent with fluctuations in world crude oil costs.
The Oil and Fuel Regulatory Authority (Ogra) beneficial the federal government on Wednesday to extend costs of petrol and diesel. Nevertheless, the regulator prompt a discount in costs of kerosene oil and lightweight diesel oil (LDO) for the month.
The regulatory authority has beneficial that the worth of petrol could also be elevated by Re1 per litre and the worth of high-speed diesel by Rs0.27 per litre. Then again, it has prompt a discount of Rs2.39 per litre within the worth of kerosene oil and Rs6.56 per litre within the worth of LDO.
Ogra has forwarded the abstract to the Ministry of Vitality (Petroleum Division), which might ship it to the Ministry of Finance for approval. The federal government will determine on the worth revision on Thursday.
For each petrol and high-speed diesel, the prompt improve is lower than one per cent whereas the proposed discount for kerosene oil is 2.four% and LDO 7.14%.
If the federal government accepts Ogra’s suggestions, the worth of petrol will go up from the prevailing Rs113.24 to Rs114.24 per litre whereas the worth of high-speed diesel will rise to Rs127.41 per litre from the present Rs127.14.
The worth of LDO, which is especially used for industrial functions, will go right down to Rs85.33 per litre from the present Rs91.89. Equally, the worth of kerosene oil will fall from Rs99.57 to Rs97.18 per litre.
Kerosene is used for cooking functions, particularly in distant areas the place liquefied pure gasoline (LPG) or pipeline gasoline isn’t out there.
Brent crude oil worth within the worldwide market stood at $61.15 per barrel on October 30 whereas on September 27, it was $62.22 per barrel.
It’s value mentioning that since July 2019, Pakistan has began receiving month-to-month oil provides value $275 million from Saudi Arabia on deferred funds. Beneath the association, Pakistan will get the oil credit score facility to the tune of $9.9 billion over three years.