ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) recommended a price hike of Rs1.93 to Rs8.62 per litre in the petroleum products before Eid.

In a summary submitted to the Ministry of Finance, OGRA proposed an increase of Rs1.93 per litre in petrol and Rs3.75 per litre in diesel prices.

A further increase of Rs8.62 per litre in kerosene Oil, Rs3.53 in Hi-Octane, and Rs5.38 in Light Diesel has been sought in the summary.

From July 1, the per litre petrol and diesel prices are expected to plunge to Rs66.20 and Rs79.27 respectively, if the government does not lower the General Sales Tax rate.

Moreover, the prices of other petroleum goods will also experience an increase to:

  • Kerosene: Rs51.87

  • Light diesel: Rs43.35

  • Hi-Octane: Rs76.21

The price hike is subjected to the prime minister's approval.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.