ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) recommended a price hike of Rs1.93 to Rs8.62 per litre in the petroleum products before Eid.

In a summary submitted to the Ministry of Finance, OGRA proposed an increase of Rs1.93 per litre in petrol and Rs3.75 per litre in diesel prices.

A further increase of Rs8.62 per litre in kerosene Oil, Rs3.53 in Hi-Octane, and Rs5.38 in Light Diesel has been sought in the summary.

From July 1, the per litre petrol and diesel prices are expected to plunge to Rs66.20 and Rs79.27 respectively, if the government does not lower the General Sales Tax rate.

Moreover, the prices of other petroleum goods will also experience an increase to:

• Kerosene: Rs51.87

• Light diesel: Rs43.35

• Hi-Octane: Rs76.21

The price hike is subjected to the prime minister's approval.