The Oil and Gas Regulatory Authority (Ogra) has sent a summary to Prime Minister Shehbaz Sharif seeking approval of the changes in the prices of petroleum products.
The Oil Marketing Companies (OMCs) had suggested the increase in the prices of the petroleum products after which the regulatory sent the summary to the prime minister, suggesting an upward revision of up to Rs16.
According to the summary, the Ogra has recommended an increase of Rs16.48 in the per liter price of petrol. It also requested the PM Shehbaz to increase the per liter price of Diesel by Rs6.80.
If the summary is approved as per the Ogra’s recommendations, it will take the prices of Petrol and High Speed Diesel to Rs243.67 and Ra251.75, respectively.
The Ogra has also requested an increase of Rs1.61 in the price of Kerosene Oil.
The new prices will be applicable from August 16 for the next 15 days.
In Pakistan, the government reviews the petroleum prices every 15 days.
The Ogra recommendations are in contrast to the assertions made by Minister of State for Ayesha Ghaus last week.
Following the slump in the global oil price and dollar taking a nosedive against the rupee after touching peak levels, the ministrr hinted at passing on more relief to the consumers by slashing the fuel prices in the coming days.