Petroleum product prices likely to rise again

Islamabad: The price of petroleum products is likely to increase once again due to the increase in prices in the global market.

The industry has sent a letter to the Oil and Gas Regulatory Authority (OGRA) regarding petroleum products.

Petrol is likely to become expensive by Rs3.50 and diesel by Rs3.70, while light diesel oil is likely to become expensive by Rs5 and kerosene by more than Rs6.

OGRA will determine the prices in proportion to the global market on January 15, while Prime Minister Shehbaz Sharif will give final approval to the prices.

The Ministry of Finance will issue a notification on the prices of petroleum products. The new prices will be effective from January 16 to 31.