Business

Govt likely to hike petroleum prices again

ISLAMABAD: Federal government is likely to increase prices of petroleum goods on recommendation of the Oil and Gas Regulatory Authority (OGRA), ARY News reported.

Oil and Gas Regulatory Authority, in its summary, has recommended the government to increase per litre petrol price by Rs. 3.00 whereas it has also suggested the government to hike the per litre cost of high speed diesel by Rs. 2.18.

The regulatory authority has asked the government to increase per litre price of kerosene by Rs. 17.50 per litre and Rs. 10.94 per litre hike in the price of light diesel.

Federal Minister for Finance Ishaq Dar will announce the revised price which will be applicable from 1st March, 2017.

It should be noted that the government had announced to hike prices of petroleum products by Rs. 2.25 per litre on February 1st, 2017 and again Rs. 1 per litre on February 15th, 2017.

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