ISLAMABAD (Staff Report) – Responding to the recent rise in global oil prices, the country’s Oil and Gas Regulatory Authority (Ogra) on Monday recommended a major rise in fuel prices, including a Rs. 6.69 per litre in the price of diesel.
“In its recommendations sent to the Petroleum Ministry, OGRA proposed a small hike in the price of petrol by Rs. 0.85, High Octane by Rs. 2.18 and Kerosene by Rs. 3.97 per litre”, Geo news reported.
The summary has been forwarded to petroleum ministry which will announce the new prices of petroleum prices after consulting with Finance Minster Ishaq Dar.
The new oil prices will take effect from June 1, 2016.