Sunday Feb 28, 2021
ISLAMABAD: Petrol prices may rise by Rs20.70 a litre tomorrow — Monday — in line with the Oil and Gas Regulatory Authority's (OGRA) recommendations.
The latest petrol 'bomb' would come into effect starting Monday — or March 1, 2021 — after a final decision on changes in the petroleum products' prices is expected later today by the finance ministry following consultation with Prime Minister Imran Khan.
People were warned of the whopping Rs20.70-a-litre worth of bump in the prices of petroleum products, after sources informed Geo News earlier this week that the OGRA had forwarded a summary to the petroleum division suggesting a massive increase in prices of petroleum products from March.
According to recommendations of the oil and gas sector's regulatory agency, a summary proposing an increase in the prices of petrol and diesel by Rs20.70 and Rs19.61 a litre, respectively, was sent to the petroleum ministry.
Earlier this month, PM Imran Khan had rejected the OGRA's prior recommendation to hike the petrol prices, wherein the agency had sought an increase of Rs14.07 and Rs13.61 per litre, respectively, in the prices of petrol and high speed diesel (HSD).
The authority had also recommended an increase in the price of kerosene oil by Rs10.79 per litre.
However, the finance ministry had stated that the petrol prices would remain unchanged at Rs111.90 per litre and that the price of diesel would be maintained at Rs116.07 a litre following PM Imran Khan's decision.