Govt decides to revise petrol prices after Eid
Sources said that the Oil and Gas Regulatory Authorities (Ogra) had recommended no change in the prevailing fuel prices.
It has further suggested that a relief can be provided to public by reduced petroleum levy.
Earlier on Tuesday, the Economic Coordination Committee (ECC) decided to revise oil prices twice in a month. The decision will be enforced after getting approval from the federal cabinet.
On the other hand, petroleum prices witnessed surge in international market during ongoing month of July.
The federal government is also under pressure to raise the prices again due to shaky economic condition of the country.
The Ministry of Finance and oil companies, both, are in favour of increasing the petrol prices.
The petroleum ministry has send recommendations to the finance ministry while a final decision in this regard would be taken by Prime Minister Imran Khan on Thursday.