The Oil and Gas Regulatory Authority (OGRA) has recommended an increase of Rs5.5 and Rs3.5 in the per litre price of petrol and diesel, respectively.
OGRA has sent a summary to the petroleum division seeking an increase in the prices of petroleum products. The final approval with regard to revision in prices, however, rests with Prime Minister Imran Khan.
If approved, the new prices will take effect from Oct. 1, 2021.
On September 16, the government increased the price of petrol by Rs5 per litre even though the OGRA had recommended an increase of only Rs1 per litre.
Currently, petrol is being sold at Rs123.30 per litre.
On the other hand, crude oil prices in the international market have also hit three-year high of $80 per barrel.
Pakistan revises petroleum prices every 15 days. OGRA submits its proposals to Prime Minister Imran Khan who then takes the final decision.
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