ISLAMABAD:
Sources in the petroleum ministry say they have received recommendations from the Oil and Gas Regulatory Authority (OGRA) to hike oil prices to keep pace with global price changes; therefore prices are likely to rise by an average of 5.5% from July 1.
The products likely to see their prices go up include petrol, kerosene and high-octane blended component. Diesel prices, however, are likely to come down as are those of jet fuels.
The prices of kerosene will likely go up by Rs0.67 per litre, or 1%, to Rs65.61 per litre on July 1. Kerosene is used as a fuel in those parts of the country where LNG or other fuels are not available, generally the poorest, most remote parts of the country.