The Oil and Gas Regulatory Authority (Ogra) on Thursday denied that it had sent a summary to the government proposing a hike in the price of petroleum products.
“Reports circulating on media regarding an increase in prices of petroleum products are based on speculation,” said a spokesperson of the authority.
Earlier in the day, sources in the petroleum division told Geo News that Ogra has recommended increasing the price of petroleum products by Rs11.95 per litre from January 16.
Sources said that the authority has also recommended increasing the diesel price by Rs9.57 per litre.
The final decision would be taken by the Ministry of Finance headed by Dr Abdul Hafeez Shaikh after consultation with Prime Minister Imran Khan.
On December 30, 2020, the federal government had decided to raise the petrol price by Rs2.31 per litre across Pakistan after rejecting an Ogra summary recommending an increase of Rs10.68 per litre for petrol, Rs8.37 per litre for diesel, Rs10.92 per litre for kerosene oil, and Rs14.87 per litre for light diesel oil.
PM Imran Khan had okayed raising diesel by a lower Rs1.08 per litre, kerosene oil by Rs3.36 and light diesel oil by Rs3.95.
Consequently, petrol is currently being sold at Rs106 per liter while diesel is available for Rs110.24 per litre, kerosene oil for Rs73.65 and light diesel oil for Rs71.81.