ISLAMABAD: The decision to change the prices of petroleum products will be taken today. The Oil and Gas Regulatory Authority (OGRA) had two days ago sent a proposal to increase the price of petrol by Rs. 7 and diesel by Rs. 8 per liter to the Petroleum Division. However, the government will decide today the new price of petrol for the next 15 days of September. The new prices will be applicable from 12 noon tonight.
According to The Nation, the petroleum prices are likely to go up by Rs.5 per liter for the month of September, while OGRA proposed Rs.7 per liter increase earlier, the final decision is in the hands of the government.
Earlier it was decided to implement the new oil prices fortnightly rather than on a monthly basis, the new prices would remain unchanged for the next 15 days of the month.
Apart from petrol and diesel, OGRA had also proposed an increase in kerosene and light diesel prices. OGRA sent proposals on the basis of Rs. 30 per liter petroleum levy. The price of petrol includes a petroleum levy of Rs 26.70. Sources told that the price of diesel includes a petroleum levy of Rs 25.73 per liter. It may be recalled that a month ago, a meeting of the Economic Coordination Committee chaired by the Finance Advisor approved a proposal by the Ministry of Energy to change the prices of petroleum products after 15 days.