Petroleum price is expected to increase by Rs. 5.25 per liter from 1 October according to a proposal sent by the Oil and Gas Regulatory Authority (OGRA) to the Finance Division.
As reported by The News, the price of diesel is also expected to rise by Rs. 3.5 per liter. However, the Ministry of Finance will consult Prime Minister Imran Khan before the final decision is made.
The fluctuations in the prices of petroleum in the international market and the variations in the exchange rate had led the government to announced a massive increase of Rs. 5 per liter for petrol on 15 September, which had bumped the price of petrol to an all-time high of Rs. 123.30 per liter.
A notification by the Finance Division detailed that the price hikes of other petroleum products were enforced from 16 September and had upped the price of high-speed diesel by Rs. 5.01, light diesel oil by Rs. 5.92, and kerosene by Rs. 5.46 per liter. They now cost Rs. 120.04, Rs. 90.69, and Rs. 96.26 per liter respectively.
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