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Business Pakistan

OGRA proposes Rs 5.59 increase in petrol price from 1st March  

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Finance Ministry on Thursday, seeking raise in the prices of petroleum products.

According to sources, OGRA has recommended an increase of Rs5.59 per litre in the price of petrol, Rs12.62 per litre in the price of High Octane Blending Component (HOBC) and Rs7.62 per litre in kerosene. An increase of Rs 5 in the price of light speed diesel and decrease of Rs 5.49 in the price of High Speed diesel is expected.

Final decision on OGRA’s summary will be taken on February 28 and the new prices will be implemented from March 1, 2015. It is also expected that Prime Minister Mian Muhammad Nawaz Sharif will not approve the increase in prices of petroleum prices from next month and will order concerned authorities to maintain the prices of POL products at the current level for next one month.