Oil and Gas Regulatory Authority (OGRA) has recommended a substantial increase in the prices of petroleum products in wake of surge in international oil prices. Sources in OGRA claimed that the authority has recommended Rs3 per liter raise in price of petrol and Rs4.50 per liter increase in the price of high speed diesel (HSD). The authority also recommended Rs5 per liter increase in price of light diesel oil (LDO) and Rs6 per liter increase in the price of kerosene oil.
However, spokesman OGRA refused to comment and said he was clueless about the summery being sent to the Ministry of Finance. Usually, the government announces new oil prices on the last day of every month which become applicable from the midnight of the new month. The new prices will be effective from July 1 to the midnight on July 31, 2018.
Earlier, the caretaker government announced a considerable increase in the prices of petroleum products for 19 days of the month of June. Caretaker Finance Minister Shamshad Akhtar had stated that 50 percent price increase in petroleum products was passed on to public for the month of June.
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