The government will have to face a tough time while deciding whether to pass on the Oil and Gas Regulatory Authority’s (OGRA) estimated increase of five to nine percent or Rs 5 to Rs 9 per litre in various POL products with effect from April 1. An official source said OGRA had calculated an increasing trend in the international crude oil prices that had jumped from $117 per barrel in February to $124 per barrel in March.
The Pakistani Rupee has further devalued against the US dollar from Rs 90.73 to Rs 90.93 during the current month. OGRA, he said, had calculated an increase in the price of motor spirit (petrol) by Rs 8 per litre, High Octane Blended Component (HOBC) by Rs 9, High Speed Diesel (HSD) Rs 5, Light Diesel Oil (LDO) Rs 5 and Super Kerosene Oil (SKO) by Rs 5.50 per litre. The government is already shaken by street protests across Punjab against electricity load shedding and massive hike in power tariff under fuel price adjustment and violence in Karachi, and would be on a slippery ground if it decides to increase the POL prices, he added.
