The decision to increase the prices of petroleum products will be held today.
Two days ago, the Oil and Gas Regulatory Authority (OGRA) sent a proposal to increase the price of petrol by Rs. 7 and diesel by Rs. 8 per litre to the Petroleum Division. However, the federal government today decided to change the price of petrol will be applicable from 12 noon tonight.
Apart from petrol and diesel, the OGRA had also proposed an increase in kerosene and light diesel prices. The authority sent proposals on the basis of Rs 30 per liter petroleum levy. The price of petrol includes a petroleum levy of Rs 26.70.
ECC had accorded approval on July 28 for revising the petroleum products prices after every 15 days. ECC meeting was held under finance advisor Abdul Hafiz Sheikh.
Presently petrol is selling at Rs 100.10 per liter and diesel at the rate of Rs 101.46 per liter.
