Petrol price in Pakistan likely to jack up

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the federal government for increasing petrol to Rs3 per litre, ARY News reported citing sources.

As per the details, the OGRA suggested increasing the prices of petroleum products from March 1. According to the proposal, the petrol price might jack up Rs3 per litre.

The OGRA has also suggested an Rs1 per litre increase in the price of high-speed diesel. The regulatory body also suggested the federal government to jack up kerosene oil by Rs1 per litre.

Meanwhile, the OGRA asked the government to reduce light-speed diesel prices by Rs0.70 per litre.

The decision regarding the new prices for petroleum products will be made on February 29.

Read More: Govt hikes petrol price by Rs2, diesel by Rs8

Earlier on February 15, the caretaker government approved a hike in the price of petrol by Rs2.73 per litre following the recommendation of the OGRA.

According to a notification by the finance ministry, the price of petrol increased by Rs 2.73 per litre and High-Speed Diesel by Rs 8.37 per liter.

The price of Kerosene oil also increased by Rs10.08 per litre, according to the notification.