Govt may increase price of petrol from June 16, say sources

• The price of petrol is expected to rise by Rs4.20, say sources.
• Price of diesel can be increased by Rs3.50: sources.

The prices of petroleum products are expected to go up from June 16, sources said Monday. 

As per sources, the Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Finance Division, recommending an increase in the prices of petroleum products.

The prices of petrol and diesel will be fixed in line with the current levy, confirmed sources, adding that at present, the levy on petrol is Rs4.80 per litre while the levy on diesel is Rs5.14 per litre.

The price of petrol is expected to rise by Rs4.20, while an increase of Rs3.50 is expected in diesel's rates, sources said.

However, the Ministry of Finance will make the final call on whether or not to increase prices of petroleum products, after consulting the prime minister. 

On May 31, the government had announced that it had decided to keep the prices of petroleum products unchanged for the first half of June, a statement from the Finance Division had said.

PM Imran Khan had decided to maintain the prices of petroleum products as they were on May 17th, 2021, the statement had said.

"The government has not increased the prices of petroleum products since 16th April 2021 by adjusting sales tax and petroleum levy so that there is no corresponding increase in the prices of essential items and maximum relief is provided to the common man," the statement read.