The Oil and Gas Regulatory Authority (Ogra) denied news making rounds on media on Thursday about recommending the government to increase in petrol prices.
“Reports that are spreading on media relating to the rise in prices of petroleum products are uncorroborated,” clarified a spokesperson.
The sources in the petroleum division informed that Ogra has proposed an increase in the price of petroleum commodities by Rs11.95 per litre from January 16.
Sources told that the authority has also proposed increasing the diesel rate by Rs9.57 per litre.
The Ministry of Finance headed by Dr Abdul Hafeez Shaikh will take the ultimate decision after meeting with Prime Minister Imran Khan.