ISLAMABAD (Staff Report) – Prices of petroleum products are likely to rise from June 1, local media reported.
According to the summary prepared by Oil and Gas Regulatory Authority (OGRA, the price of petrol is expected to have a rise up to Rs6.19 per litre, while diesel Rs7.91 litre.
The reason behind the rise is increase of petroleum prices in the international market along with increase in General Sales Tax (GST) on petroleum products. The ascent in prices of petroleum will halt the process of persistent cutbacks in petroleum prices being carried out for the past 7 months.
In the summary sent to Petroleum Ministry, the cost for hi octane has been suggested to be increased by Rs16.02 per liter.
However, the Ministry of Finance is the final authority to sanction the new prices of petroleum products.
