Karachi: Prices of petroleum products in Pakistan are likely to go up by Rs 4 in the wake of rising crude oil prices in the global market.
According to sources, the Oil and Gas Regulatory Authority (OGRA) has begun working on the prices of petroleum products shortly after the rise in crude oil prices.
Sources said that OGRA will send two proposals to the government in which it will be recommended to increase the prices of petroleum products according to the global market. It will seek to propose the rise in petrol by Rs 3.5 and diesel by Rs 4.5.
It will also propose that the reduced rate of petroleum prices should be maintained.
The Oil and Gas Regulatory Authority will send a summary of prices of petroleum products on December 30.
Therefore, the new prices of petroleum products will be applicable by next year, January 1, 2021.