The Oil and Gas Regulatory Authority (Ogra), has recommended the federal government to increase prices of petroleum products up to 10% for the month of August.
Consumers are expected to face an increase of Rs5.15 per litre in petrol prices and a Rs5.65 increase in diesel prices.
The recommendation was made
after taking into consideration movement in crude oil prices in the international market.
The Ministry of Finance will review and set prices of petroleum products on Wednesday for August, 2019, keeping in view the government’s revenue collection target for the current fiscal year.
Ogra has calculated an increase of Rs5.15 per litre in the price of motor spirit (petrol), Rs5.65 per litre for high-speed diesel, Rs5.38 for kerosene oil and Rs8.90 for light diesel oil.
If the recommendation is approved, the price of petrol will jump to Rs117.83 per litre from the current Rs112.68, reflecting an increase of 5%.
