The prices of petroleum products are likely to increase from October 16, 2021, sources said on Thursday.

According to sources, the Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Petroleum Division, suggesting a change in the prices of petroleum products.

The sources further added that OGRA has suggested hiking the price of petrol by Rs5.90 per litre. The authority also recommended increasing the prices of diesel by Rs9.75 per litre. 

Therefore, the petroleum division will take the final decision regarding the prices of petroleum products in consultation with Prime minister Imran Khan.

So far, the government, in the last two fortnights, has approved an increase in the price of petrol of Rs9 per litre and high-speed diesel of Rs7.01 per litre from September 16.