The Oil and Gas Regulatory Authority (OGRA) has proposed, on Sunday, an increase of Rs5.50 per litre in petrol prices from March 16. 

As per the details, the OGRA recommended an increase of Rs5.75 per litre prices of high-speed diesel (HSD). The regulator has forwarded its summary regarding new rates of petroleum products to the ministry.

Sources prior to the matter said that OGRA has prepared its summary on the basis of the existing levy. Currently, the levy on petrol is Rs12.65 per litre and Rs12.53 per litre on diesel.

However, the prime minister will make the final decision about the prices of petroleum products, the sources added.

Earlier on February 28, prices of petroleum products would not see any increase at least for a fortnight as Prime Minister Imran Khan had rejected the Oil and Gas Regulatory Authority’s (OGRA) proposal to jack up fuel rates from March 1.

Special Assistant to the Prime Minister on Political Communication Dr Shahbaz Gill had tweeted that the OGRA recommended an increase in prices of petroleum products by up to Rs7 but the prime minister didn’t accept the proposal.

He had conveyed to the sources, previously that despite international oil rates going up consistently, Prime Minister (PM) Khan did not grant permission for hiking fuel prices