Petrol, diesel prices likely to go up from Sept 16
As the government is all set to do fortnightly review of the prices of petroleum products, the Oil and Gas Regulatory Authority (OGRA) has recommended up to Rs5 per litre increase in the prices of petrol and diesel.
According to sources, OGRA has recommended a Rs3.75 increase in the price of petrol and Rs4.55 per litre in the price of diesel.
According to sources, the prices of petroleum products can be maintained at the current level by bringing down petroleum levy. On the other hand, petroleum prices are in decline in the international market.
The prices of petroleum products were on the rise last month. Petroleum products were purchased at $44 per barrel, but the current price of oil in the international market is $39 per barrel.
The government can give people some relief by maintaining the prices of petrol and diesel at the current level. However, the Finance Ministry would make the final decision on the increase in the prices of petroleum products in consultation with Prime Minister Imran Khan. The new prices of petroleum products will be applicable from September 16.
The federal cabinet had decided recently that petroleum prices would be reviewed every fortnight instead of month.