Expected increases in gasoline prices starting on March 1st

The government has received a working paper from the Oil and Gas Regulatory Authority (OGRA), which suggests raising the price of petroleum products as a result of growing worries about rising oil prices globally and possible income shortages.

The ex-refinery price of petrol will increase from Rs 192.17 per litre to Rs 195.61 per litre as a result of the OGRA’s suggested increase of Rs 3.44 per litre, according to sources.

The plan also calls for a possible hike in diesel prices of Rs 1 per litre, which would raise the ex-refinery price from Rs 206.75 to Rs 207.75 per litre.

OGRA has proposed a reduction in the cost of light diesel oil (LDO), however the precise amount is yet unknown.

It’s crucial to remember that the Ministry of Finance will eventually determine whether to change prices; these are only temporary proposals. Before making a final choice, a number of aspects will be taken into account, such as prospective customer impacts, revenue requirements, and worldwide market trends.