It was recommended by the Oil and Gas Regulatory Authority (OGRA) to the Petroleum Division that the petroleum product prices should be increased.
OGRA has given a recommendation to increase the prices of petrol by Rs7 per liter and Light Diesel Oil by Rs6 per liter. A summary was sent to the Petroleum Division in this regard.
It has also been suggested by OGRA that the price of High-Speed Diesel (HSD) should be increased by Rs9.50 per liter while the price of kerosene oil should be increased by Rs.6 per litre for the month of August 2020.
Following the approval by Prime Minister Imran Khan, the new prices for petroleum products will be announced.
Back on 27th June, the federal government increased the petroleum products prices immediately effective. Finance Division issued a statement as per which the government decided to change the prices of petroleum products considering the rise in global oil prices.
The petrol price was increased by Rs25.58 to reach Rs100.10 per litre while the High-Speed Diesel (HSD) price was increased by Rs21.13 to reach Rs101.46 per litre. Similarly, the price of Light Diesel Oil (LDO) was increased by Rs17.84 to reach Rs55.98 per litre and the price of Superior Kerosene Oil (SKO) was increased by Rs23.50 to reach Rs59.06 per litre.