ISLAMABAD: The government is all set to jack the prices of Petroleum Oil and Lubricants (POL) products up to six percent by the start of February. Therefore, the already heavily-burdened masses should get ready to bear the brunt of inflationary pressure originating from the international market. However, Oil and Gas Regulatory Authority (Ogra), in a bid to benefit the consumers, has recommended the government to maintain the POL prices by reducing the petroleum levy.
As oil prices increase in the international market, prices of petroleum products are expected to increase in Pakistan.
The price of petrol is expected to increase by Rs3 per liter, diesel by Rs1.25 per liter.
Light-diesel is expected to be increased by R3 per liter while Kerosene oil is expected to rise by Rs4 per liter.
According to sources within OGRA, the summary for the price hike will be sent to the Petroleum Ministry on February 28.