Oil and Gas Regulatory Authority (OGRA) on Saturday recommended to the Ministry of Finance an increase in the prices of petroleum products, reported 24NewsHD TV channel.

Sources told 24News TV channel that the Authority had recommended Rs2.50 per liter increase in the price of High Speed Diesel (HSD); 50 paisas per liter increase in the price of petrol, increase by Rs1 in the prices of Light Diesel Oil and Kerosene Oil.

The finance ministry will take the final decision after consultations with Prime Minister Imran Khan.

The new prices will take effect from August 16 (Monday).

The summary of the hike in petroleum products prices has been prepared in accordance with the current petroleum levy.

Reporter Waqas Azeem