Islamabad: Oil and Gas Regulatory Authority (OGRA) recommended increasing petrol price in Pakistan from August 1 (tomorrow).
OGRA recommended higher authorities about increasing petrol price in Pakistan from August 1. Rs 2.70 and Rs 2.45 per liter price increment is suggested in high speed diesel and petrol respectively. OGRA forwarded the summary to Finance Ministry and suggested increasing oil prices in Pakistan.
In addition, Rs 3.40 and Rs 3.25 per liter hike in light diesel and kerosene oil is also recommended. However, if the Ministry of Finance would give the approval then the new prices will be implemented from tomorrow.
According to some sources, the interim government is not in favor of increasing petrol price in Pakistan and will not increase prices. However, the next government will take decision about increasing oil prices in Pakistan.
Oil Prices in world have seen a rapid increase after the US withdraw from the Iran Nuclear Deal. In addition, the US also put sanctions on Iran. After the decision, oil prices rapidly increased in different countries.