ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday prepared a summary, seeking increase in petroleum prices from February 15, ARY News reported quoting sources.
According to sources privy to the development, the regulator has recommended an increase in petrol price by Rs12 per litre.
The authority has also suggested an increase of Rs9.53 per litre in the price of high-speed diesel in light of the recent hike in oil prices globally.
The Ministry of Finance will announce the new prices of petroleum products after approval of Prime Minister Imran Khan. The new rates will be applicable from midnight on Feb 16.
Read: PETROL, DIESEL PRICES TO STAY UNCHANGED AS PM REJECTS HIKE PROPOSAL
On Jan 31, the federal government had deferred a decision on the proposed increase in prices of petroleum products for the next 15 days.
Taking to Twitter, Special Assistant to the Prime Minister on Political Communication Shahbaz Gill said the Prime Minister Imran Khan rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA) seeking hike in POL prices.
The Oil and Gas Regulatory Authority had suggested an increase of Rs11 per litre in the price of petrol and Rs14 per litre in diesel price for the next 15 days. On Jan 15, the federal government had jacked up prices of petroleum products by up to Rs3 per litre.
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