Observer Report
Islamabad
The government is likely to increase the prices of petroleum products by as much as Rs8.90 for the month of August on the recommendation of the Oil and Gas Regulatory Authority.
According to the summary, forwarded to the Petroleum Division on Tuesday, the price of petrol may increase by Rs5.15, high speed diesel by Rs5.65, light diesel oil by Rs8.90 and kerosene oil by Rs5.38.
The new prices will take effect from August 1 after the Finance Ministry forward the summary to the prime minister for approval. Last month, the government had decided not to increase the prices of petroleum products in a bid to provide relief to the masses.
