The Ministry of Finance has approved the proposal forwarded by Oil and Gas Regulatory Authority (OGRA) seeking an upward revision in the prices of all petroleum products except diesel. An approval has also been given for raising CNG price by Rs 6.20 a kilogram. According to the summary, the price of petrol has been raised by Rs 6.82 per liter while diesel price was cut down by Rs 1.75 a liter with effect from September 17 (Monday) under the weekly mechanism to review POL prices. The price of High Octane Blending Content (HOBC) has been raised by Rs 1.50 a liter and kerosene oil by Rs 0.62 per liter. A jump in international oil market, which rose by $2 per barrel from $113 to $115 lately, has been stated as the reason for the latest hike.
