ISLAMABAD: The Oil and Gas Regulatory Authority has recommended an increase in prices of petrol and light diesel by more than Rs8.37 and Rs11.65 per liter respectively.
The OGRA has forwarded a summary to the Finance Ministry recommending hike in prices of petrol and light diesel by Rs8.37 and Rs11.65 per litre respectively to the petroleum ministry for approval.
The price of price of kerosene oil has been recommended to be increased by Rs8.23 per litre and price of high speed diesel by Rs12.50 per litre.
The PM will give the final approval to the determination of the prices which will stand implemented on June 1 at 2400 hrs for one month.
It is pertinent here to mention that the federal government has increased prices of petroleum products nine times during the last 12 months, while only three times the prices were decreased. The government also received Rs20 tax on petrol while Rs30 on diesel.
According to the statistics, the PML-N-led government raised Rs2 in September and October 2017, Rs2.49 in November 2017, Rs1.48 in December, Rs4.6 in January 2018, Rs2.98 in February and Rs3.56 were raised in March 2018.
During one year, the government increased the price of diesel by Rs15.76.