OGRA recommends Rs8.5 per litre hike in petrol price: Sources

Islamabad: The Oil and Gas Regulatory Authority (OGRA) has recommended up to Rs8.5 hike in prices of petroleum products from February 16, sources said on Monday.

The regulator, in its summary forwarded to Petroleum Division, recommended Rs8.5 per litre increase in petrol price, according to sources.

Similarly, a hike of Rs5.5 per litre was recommended in price of diesel.

A final approval pertaining to the fresh hike in prices of petroleum products will be taken by the Prime Minister Imran Khan.

The OGRA increased the prices of petroleum products on the basis of the existing levy.

Sources said that if the federal government raises the levy, the hike of prices will be more than summary hike prices. It added that there is no chance to further decrease levy on petroleum products.

The decision regarding prices of petroleum products will be taken by the premier. New prices of petroleum products will be announced tomorrow.