The Oil and Gas Regulatory Authority (OGRA) has estimated a preliminary increase of Rs 4 per litre in the price of petrol and a decrease of Rs 1 per litre in price of diesel. According to an official source, the petrol price was calculated on the basis of the prices in the international market which was around $106 to $108 per barrel.
However, he said the price determination was preliminary as it did not account for the increase in dollar-rupee parity, adding that the final determination would be made by Thursday. The Finance Ministry has already instructed the State Bank to take necessary measures to control the rising trend in the value of the US dollar against the Pakistani rupee that increased by Rs 4 after the government announced that it would not seek another bailout package from the International Monetary Fund.