ISLAMABAD – The Oil and Gas Regulatory Authority (OGRA) has proposed a hike in petroleum prices from Rs 2 to Rs 6 per litre for January, an official source said on Thursday.
The final decision to implement the new prices would be decided by the government today (Friday), the source said, adding that the government had maintained the petroleum prices in December and picked up the Rs 2 billion differential in prices in January.
He said the crude oil prices had risen by 20 percent and refined oil products by 24 percent during December, adding that “this month the government will have to bear a higher cost if the price differential is not passed on to the consumers”. The shortage of gas and power could force the government to delay this month hike in prices.
