ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has sent the summary to the ministry to increase the petroleum prices once again on 1st June 2019.
According to the sources, The Petrol Price hike will be effective before Eid Ul Fitr which is expected on June 4, 2019.
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The OGRA has prepared a proposal to increase the petroleum products prices for the month of June 2019 in which Petrol Price will go up by Rs 9.50, High-Speed Diesel price by Rs 11.50, Light Diesel price by Rs 7.85 and kerosene price hike up by Rs 12 per liter.
Overall in the International market the oil prices are declining, however due to Pakistani rupee devaluation against US dollar, prices are expected to retrain high in Pakistan.
The Petroleum Minister and Prime Minister of Pakistan will announce the final decision on May 31st and the new prices of the petroleum products will be effective from mid-night 1st June 2019.