ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended a Rs. 1 per litre increase in the price of petrol.
The authority forwarded a summary to the Petroleum Division in which it suggested increasing the price of petrol by Rs. 1 per litre from September 16.
It also asked for an increase of Rs. 10.50 per litre in the price of high-speed diesel and hiking the price of kerosene oil by Rs. 5 per litre.
The final decision in this regard will be taken by the Ministry of Finance once it consults the prime minister.
Working paper on the prices of petroleum products from Ogra had been received
Petroleum Division sources said the working paper on the prices of petroleum products from Ogra had been received. The working paper is based on existing petroleum levy and general sales tax rates and import parity price.
Under the revised mechanism, oil prices are revised by the government fortnightly to pass on international prices published in Platt’s Oilgram instead of previous mechanism of monthly calculations on the basis of import cost of Pakistan State Oil.
