Petrol price likely to increase by Rs21 from May 16
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OGRA has prepared a summary of withdrawing subsidies of Rs21 on petrol and Rs51 on diesel that will be increased the prices of petroleum products for the next 15 days from May 16.
According to the 24News HD TV channel, the Oil and Gas Regulatory Authority (OGRA) has completed working to withdraw the subsidy of Rs21 on petrol and Rs51 on diesel.
The sources in the Ministry of Energy have confirmed that the work to withdraw subsidies on petroleum products has been completed and a summary of increasing prices will be sent to the government tomorrow (Saturday, May 14).
If the Shehbaz Sharif-led government approved the summary of ending subsidy then it is expected that the prices of petroleum products will increase.
As per the report, petrol is being subsidized at Rs21.30 and diesel at Rs51.52 at the moment and after withdrawing of it, the petrol price will increase by Rs21.30 and diesel by Rs51.52.