KARACHI: The Oil and Gas Regulatory Authority (OGRA) has forwarded a proposal to the Ministry of Finance seeking an upward revision in the prices of petroleum products with the exception of diesel.
It has been proposed that the price of petrol be raised by Rs6.82 per litre while diesel be brought down by Rs1.75 a litre with effect from September 17 (Monday), under the weekly mechanism to review the prices of POL products.
The proposal seeks to increase the price of High Octane Blending Content (HOBC) by Rs1.50 a litre and kerosene oil paisas 62.
The Ministry of Finance will grant final approval to the OGRA's proposal.
A jump in international oil market, which rose by $2 per barrel from $113 to $115 lately, has been imputed to this probable hike in local petroleum products prices.
The rates of compressed natural gas (CNG) are also expected to spike, sources said.