The Oil and Gas Regulatory Authority (OGRA) has recommended the petroleum division to raise fuel prices including that of petrol in December.
According to the details, a summary with higher prices has been sent from the regulatory body to the division.
The OGRA recommends raising petrol prices by Rs2.55 per litre from December 1 while High-speed diesel should be increased by Rs2.70.
Prime Minister Imran Khan has to approve the increase in prices before they come into effect. The finance ministry will announce the new prices on November 30 (today).
It is pertinent to mention here that federal government on November 15 lowered fuel prices in the country, bringing down the price of petrol by Rs1.71 per litre.
The prices were lowered for the next 15 days as per the new policy of the incumbent government and would come into force from November 16.