ISLAMABAD: Petroleum products are likely to see a price hike of Rs6 liter from July 1 as the Oil and Gas Regulatory Authority (OGRA) has sent a summary to increase petroleum products prices to the petroleum division. 

The summary recommends a Rs3 increase in the price of high-speed diesel, whereas a Rs6 per litre for petrol has been suggested. 

The summary has been prepared following the existing petroleum levy. However, in the case of a petroleum levy of Rs30 per litre, the price increase may increase further. 

If the petroleum levy is increased, diesel price will see a Rs34 hike and Rs37 per litre hike for petrol.

Earlier on June 1, Prime Minister Imran Khan has rejected a proposal by the Oil and Gas Regulatory Authority (OGRA) for an increase in fuel prices for the next 15 days.

The Finance Division issued a notification in this regard on Monday.

On June 1, the price of petrol stood at Rs108.76 per litre, while prices of diesel, kerosene oil, and light diesel were Rs110.76, Rs80, and Rs77.65.86, respectively. Sources said the OGRA had sought Rs4.30 per litre increase in diesel prices besides a minimal increase in prices of petrol and kerosene.

The prime minister also turned down on May 17 the OGRA recommendation to raise the prices of petroleum products=

The writer is a member of staff The reporting desk can be reached at info@thecorrespondent.com.pk

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