OGRA recommends massive increase in petrol price

• Petroleum products to get costlier from July 16.
• The Oil and Gas Regulatory Authority (OGRA) has recommended increase in POL products.
• PM Imran Khan will approve the new prices.

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended a massive hike in the petrol price of Rs11.50 for the next fortnight, Geo News reported Wednesday.

According to the TV report, the regulatory authority has forwarded a summary to the Petroleum Division (PD) suggesting an increase of Rs2.40 in the price of high-speed diesel.

It has also sought an increase of Rs1.40 in the price of light diesel oil and Rs1.5 in the price of kerosene oil.

The final decision on the summary will be taken in consultation with Prime Minister Imran Khan after which the finance ministry will issue a notification. The new prices will come into effect from July 16.

Last month, the prime minister had rejected a summary suggesting an increase of Rs6.05 and instead approved a hike of Rs2 per litre petrol price.

Special Assistant to Prime Minister of Pakistan on Political Communication Shahbaz Gill had said that the recommended increase by OGRA was in accordance with a rise in fuel prices in the international market.

Current POL prices in Pakistan: