ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) is likely to increase petrol price by Rs1/liter and diesel by Rs4/liter from December 1, 2011, Geo News reported.
OGRA officials told Geo News that international crude oil prices have shot up to $112 form $109 per barrel, therefore new imports would be sourced at a higher cost.
Moreover diesel has also registered a 7 percent hike in the global market.
Owing to the bullish overseas oil prices government was bound to raise local prices, the officials said.
OGRA officials told Geo News that international crude oil prices have shot up to $112 form $109 per barrel, therefore new imports would be sourced at a higher cost.
Moreover diesel has also registered a 7 percent hike in the global market.
Owing to the bullish overseas oil prices government was bound to raise local prices, the officials said.
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