The Oil and Gas Regulatory Authority (OGRA) has recommended increasing prices of petroleum products by as much as Rs14.37 for the month of May.
In a summary moved to the Petroleum Division on Monday, OGRA proposed that the price of high speed diesel (HSD) be raised by Rs4.89 per litre and petrol price be hiked by Rs14.37 per litre for the next month.
The regulator has also requested an increase in prices of kerosene oil of Rs7.46 per litre while a rise of Rs6.40 per litre has been recommended for light diesel oil (LDO).
If the government accepts this recommendation, then diesel prices would inflate to Rs122.32 per litre, petrol to 113.26 per litre, LDO to Rs86.94 per litre and kerosene oil would go up to Rs96.77 per litre.
Prime Minister Imran Khan will take the final decision over the price hike after consultations with the petroleum and finance ministries.
Last month, the government had raised the oil prices by up to Rs6 per litre for April in line with fluctuation in global oil prices.
Prices of petrol and high speed diesel were increased by Rs6 per litre each, and Kerosene oil and light diesel oil by Rs3 per litre each.
The price of diesel was inflated from Rs111.43 to Rs117. 43 per litre, petrol from Rs92.89 to 98.89 per litre, LDO from Rs77. 54 to Rs80.54 per litre and kerosene from Rs86. 31 to Rs89.31 per litre.
High speed diesel is widely used in agriculture and transport sectors and therefore increase in its price would have a direct impact on life of a common man due to inflationary impact. The petrol is used in vehicles. Kerosene is used in remote areas for cooking where LPG is not available.