ISLAMABAD: Fuel prices in Pakistan are likely to be raised by over Rs 5 per litre as OGRA has recommended an increase in prices of petrol and diesel from October 01.
The Oil and Gas Regulatory Authority (Ogra) has sent a summary to the petroleum division seeking an increase in petrol price by Rs5.25 per litre. The diesel prices are recommended to be raised by Rs3.5 per litre, source said.
A final decision on the matter will however be taken by the finance ministry after consultation from Prime Minister Imran Khan.
The sources said that the change in petroleum prices will rely on adjustments on petroleum levy and GST to be added to the petrol and diesel prices.
Currently, there is an Rs5.62 per litre petroleum levy imposed on petrol and Rs5.14 per litre on diesel.
The federal government had increased the price of petrol by Rs5 per litre for the next 15 days of September 2021, according to a notification issued by the Finance Ministry.
The government approved Rs5 per litre increase on petrol and Rs5.01 per litre in the price of diesel. The price of kerosene oil went up by Rs5.46 while the rate of light diesel was jacked up to Rs5.92 per litre.
From Sept 16, the government increased petrol price by Rs5/liter, now selling at Rs123.30 per litre, whereas high-speed diesel price was increased by Rs5.01, now being sold at Rs120.04 per litre. If the government further increased domestic oil prices, the new prices will be effective from today at 12:00 midnight.
