Proposal moved to hike diesel price, lower petrol

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has forwarded a proposal to the Ministry of Petroleum seeking a hike in the price of diesel and reduction in that of petrol under the government's weekly mechanism for revising the rates of fuel prices, Geo News reported Saturday.

Sources told the Geo News that in the proposal OGRA has recommended a rise of Rs3.16 per litre in the price of diesel and a reduction of Rs2.09 a litre in the rate of petrol.

The summary further proposes to increase the prices of kerosene oil and light diesel by Rs1.92 and Rs1.23 per litre respectively.

It is believed that with the reduction in price of petrol the Compressed Natural Gas (CNG) will witness a decline of around Rs2 per kilogram.