Follow Us on Google News
The Oil and Gas Regulatory Authorities have proposed an increase in the profit margin of petrol pumps and oil marketing companies (OMCs).
According to sources, Ogra wrote to the Petroleum Division to increase OMC and dealers’ margins.
The authority suggested an increase in margin on petrol from Rs 7.87 per litre to Rs 9.22 per litre, the insiders said, adding that it proposed an increase in the profit of petrol pumps by Rs 1. 40 per litre.
Increasing dealers’ margin on petrol and diesel from Rs.8.64 to Rs.10.04 per litre is proposed, the source said, adding that on the proposal of Ogra, the matter will be sent to the ECC and the Federal Cabinet for approval.Petroleum prices likely to increase after five consecutive fortnightly reductions, primarily due to rising international prices linked to escalating tensions in the Middle East.
Official sources indicated that effective October 16 and lasting until October 31, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are expected to rise by approximately Rs5.50 and Rs13 per litre, respectively.
