Petrol price likely to go up by Rs2.12 from Aug 1

ISLAMABAD: The government is likely to increase petrol price by Rs2.12 from August 1 after the Oil and Gas Regulatory Authority (OGRA) forwarded a summary to the Federal Petroleum Ministry on Wednesday, official sources said on Friday.

According to the summary, OGRA has recommended increasing the price of kerosene oil by Rs3.94, high-octane by Rs0.60 and high-speed diesel by Rs0.26.

OGRA also proposed lowering the tariffs of light diesel by Rs1.24. However, the final decision would be taken after consultation with Prime Minister Nawaz Sharif.

Despite OGRA’s recommendation, the prices of petroleum products were not increased during past two months.

However, the sources said the prices are likely to go up this time.