OGRA proposes hike in fuel prices

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has prepared a summary, seeking an increase in petroleum prices from September 16, ARY News reported on Tuesday quoting sources.

According to the sources, the OGRA recommended an increase of Rs10 per litre in price of high-speed diesel (HSD).

The authority has suggested an increase of Rs1 per litre in the price of petrol, Rs5.50 in the price of kerosene oil and Rs5.50 in light diesel.

The regulator has forwarded its summary regarding new rates of petroleum products to the ministry.

Sources prior to the matter said that OGRA has prepared its summary on the basis of the existing levy.

Read: GOVT ANNOUNCES REDUCTION IN PETROL, DIESEL PRICES

However, the prime minister will make the final decision about the prices of petroleum products, the sources added.

The federal government earlier in August had announced a reduction of up to Rs1.50 per litre in the prices of petroleum products.

According to a notification, the prices of petrol and high-speed diesel had been reduced by Rs1.50 per litre while that of light diesel by Rs1 per litre.

Currently, one litre of petrol cost Rs118.30, high-speed diesel Rs115.03, and light diesel Rs84.77.