*ISLAMABAD: Around Rs 12 per litre hike in prices of petroleum products isexpected before Eid.*
The Oil and Gas Regulatory Authority (OGRA) has forwarded its summaryregarding new rates of petroleum products to the ministry.
The government is likely to hike the prices by as much as Rs 12 per litrefrom June 1st.
The OGRA summary proposing new rates will take effect from June 1st afterapproval by the prime minister.
According to the prices recommended in the summary, the rate of petrol maybe increased by Rs 9.50 per litre, while high-speed diesel (HSD) may go upby Rs 11.5. Moreover, the price of light diesel oil (LDO) will likely tohike by Rs 7.85 while kerosene may see a rise of Rs 12 per litre.
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The impact of rupee depreciation against the dollar and soaring crude oilprices in the world market have been incorporated in HSD and petrol prices,OGRA said.
It is pertinent to mention here that the government had increased the oilprices by 10 percent in the beginning of current month.
