OGRA recommends hike in petroleum prices

The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Power Division suggesting yet another hike in prices of various petroleum products effective August 1.

The regulatory body has recommended an increase of Rs2.75 per litre in petrol prices, Rs3 per litre for diesel, and Rs4 per litre for kerosene oil, sources familiar with the matter said.

The caretaker government, however, may leave the decision for a revision in petroleum prices to the incoming government, the sources added.

Earlier on July 1, the interim government had hiked the price of petrol by Rs7.54 to Rs99.50 per litre, diesel by Rs14 to Rs119.3 per litre and kerosene oil by Rs3.36 to Rs87.7 per litre. It had also raised rates of other petroleum products.

However, a week later, the prices were reduced after the Supreme Court took notice of heavy taxes on the sale of petroleum products.

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