Officials of the Ministry of Petroleum and Natural Resources have announced that prices of petroleum products are expected to increase by Rs. 6.93 per liter starting next month.
The price hike is due to increasing of global crude oil prices.
Oil and Gas Regulatory Authority (OGRA) submitted a report to the Petroleum and Natural Resources Ministry which included a recommendation to increase oil prices. It should be noted that OGRA regulates kerosene oil prices only and the rest of the petrol product prices are deregulated.
The price hike will affect regular petrol, kerosene oil, high speed diesel (HSD) and light diesel oil (LDO).