Petrol and diesel prices likely to rise from December 1
The Oil and Gas Regulatory Authority (OGRA) has sent a summary of changes in prices of petroleum products for 15 days from December 1 to the Petroleum Division.
According to sources, petrol and diesel prices are likely to rise from December 1, due to the rising trend in crude oil prices in the global market after mid-November.
Sources said that from December 1, the price of petrol could go up by Rs 2.50 per liter while the price of diesel could go up to Rs 3.3 per liter.
According to sources, the federal government can maintain the price of petrol and diesel by reducing the petroleum levy. The government is charging Rs 30, 30 per liter of petrol and diesel.
The final decision on the prices of petroleum products will be taken by the Ministry of Finance in consultation with the Prime Minister.
It may be recalled that two weeks ago, the federal government had reduced the price of petrol by Rs 71 per liter and high speed diesel by Rs 79 per liter.