The government has on Monday (today) increased the prices of petroleum products by Rs 3.
The Oil and Gas Regulatory Authority (OGRA) has sent a summary of changes in prices of petroleum products to the Petroleum Division.
According to sources, the OGRA has recommended a Rs1.90 increase in per litre price of petrol while a Rs3.25 increase in that of high-speed diesel.
After seeking approval from Prime Minister Imran Khan, the new price for petrol after the rise will be Rs110.49 whereas, for diesel, the new price will be Rs114.11.
However, the new prices for petrol and high-speed diesel will be applicable from 12 a.m (tonight).
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Earlier on April 30, Prime Minister Khan had rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA) for hiking the price of petroleum products.
Previously, OGRA had sent a summary of changes in the prices of petroleum products to the Petroleum Division. Sources said that the prices of petroleum products are likely to go up on February 16.
According to sources, crude oil prices had risen in the global market due to which the price of petrol in the country is likely to increase by Rs 5.50 per litre.
Similarly, the price of diesel might increase by Rs 5.75 per litre, Ogra prepared its summary on the basis of a levy of Rs30 per litre.
Sources said that OGRA in its summary had proposed to increase the price of petrol by up to Rs 16 per litre, in the summary of OGRA it has proposed to increase the price of diesel by Rs 14 to 75 paise.