On Wednesday, the Oil and Gas Regulatory Authority (OGRA) sent a summary to the petroleum division for another increase in petroleum product prices from June 16.
According to sources, the oil regulatory authority has prepared a summary requesting an increase in petroleum prices from June 16 in light of negotiations with the International Monetary Fund (IMF).
According to sources, the authority has also proposed ending fuel price subsidies. Despite a Rs60 per litre increase in petroleum prices in the last 15 days, the government continues to provide subsidised gasoline at Rs9.3/litre and diesel at Rs23.05/litre.
However, the prime minister will make the final decision on petroleum product prices.
The rupee, on the other hand, continued to fall against the US dollar in the interbank market, with the greenback gaining Rs1.21 during early Wednesday trading.
