5 percent increase in POL prices on the cards

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to Federal Government about 5 percent rise in prices of petroleum products, which will add another Rs. 3.64 in patrol cost.

Sources have told that OGRA has recommended federal government to increase in patrol prices by 5 percent that will escalate per liter price of patrol to Rs. 76.60. Local rise in prices is linked with prices of crude oil in international markets, which is currently on its two years’ record peak at $91 per barrel.

Last month, Prime Minister Yousaf Raza Gilani rejected the recommendation of OGRA of increase in petroleum products prices, but now this increase is inevitable, told OGRA sources.

Sources have further added after approval from Federal Government, price of diesel oil will rise by Rs. 3.92, HOBC to Rs. 4.33 where kerosene oil to Rs. 3.54 per liter. New prices will applicable from 1st January midnight.

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