KARACHI: The Oil and Gas Regulatory Authority (Ogra) on Thursday proposed the Petroleum Division to increase petrol price by Rs8.53 per litre, raising the price to Rs116.95 per litre.
According to sources, Ogra has also purposed to increase prices of high speed diesel and kerosene oil by Rs8.99 and Rs1.69 per litre respectively. The new suggested price of kerosene oil after the hike will be Rs98.46 per litre.
An increase of Rs1.68 in price of light diesel has also been suggested, hiking it to Rs88.62 per litre.
Sources indicated that Ministry of Finance, after consulting with the Prime Minister, will finalize the proposed price hike. The new rates are expected to be applicable from June 1.