OGRA proposes increase in petroleum prices

ISLAMABAD: Oil and Gas regulatory authority (OGRA) proposed an increase in the prices of petroleum products on Monday.

In a summary submitted to the Ministry of Petroleum and Natural Resources, the authority has proposed a significant increase in the price of diesel and kerosene oil.

It proposed a revision of Rs17.55 and Rs10.94 in the prices of kerosene oil and light diesel oil. Moreover, it requested for an additional increase of Rs2.96 per litre in the price of petrol, which is mostly consumed by motorcyclists.

While, Rs2.18 per litre increases was demanded for high-speed diesel, which is used by heavy vehicles such as tankers and trawlers.

Prime Minister Nawaz Sharif will review the proposal and take the decision on Tuesday.

On February 16, the prices of petrol and diesel were increased by Rs1 each. However, the rates for the light diesel oil and kerosene remained the same.