By Our Staff Correspondent
ISLAMABAD: The government is likely to increase prices of petroleum products by as much as Rs12 per litre from June 1, just days ahead of this year’s Eidul Fitr.
The Oil and Gas Regulatory Authority (OGRA) will forward its summary proposing new rates on May 30 while the new prices will take effect from June 1 after approval by the PM, sources told The Express Tribune on Tuesday.
The price of petrol may be increased by Rs9.50 while high speed diesel (HSD) may go up by Rs11.5. Similarly, price for light diesel oil (LDO) is likely to increase by Rs7.85 while kerosene may see a rise of Rs12 per liter. The impact of rupee depreciation against the dollar is said to be incorporated in HSD and petrol prices, while the remaining increases would be made due to the rise in crude oil rates.
Earlier this month, the PTI government dropped its first ‘petrol bomb’ on masses, increasing prices of petroleum products.