In a summary forwarded to the Ministry of Finance on Wednesday, the Oil and Gas Regulatory Authority (OGRA) has proposed Rs 1.20 liter to Rs 15.35 per liter increase in prices of petroleum products from December 1, 2017.
According to an analyst, price surge has been recommended after sharp increase in crude oil price. Crude oil price has increased sharply over the market speculation that the OPEC members meeting schedule for November 30 to meet in Vienna is likely cut the daily oil supplies.
Ogra has proposes increase of Rs1.48 per liter in petrol price and after the approval it would reach Rs77.47 per liter.
High Speed diesel price is likely to go up by Rs 1.20 per liter after which new price will touch Rs51.27 per liter.
New price for kerosene oil and light diesel is expected to touch Rs 68.54 and Rs 62.15 per liter.
