Another petrol price hike on the cards

Amid a backdrop of ongoing economic challenges, including soaring inflation, the government is likely to hike petroleum prices as global commodity prices continue to rally, ARY News reported quoting sources.

The Oil and Gas Regulatory Authority (Ogra) is expected to announce new prices on September 15, based on the average international crude oil prices

Meanwhile, the government has not announced any update for expected price revision, and the decision will be finalised in recent meetings.

Last week, the Economic Coordination Committee (ECC) approved increasing the margin of petroleum dealers and oil marketing companies (OMCs).

The caretaker government approved hiking the sale margin of petrol and diesel by Rs3.5 per litre.

The decision was taken in the session of the Economic Coordination Committee (ECC) chaired by Caretaker Finance Minister Shamshad Akhtar today, The committee approved hiking the petrol and diesel sale margin for OMCs and dealers.