The Oil and Gas Regulatory Authority (OGRA) has recommended increasing the prices of petrol and diesel by Rs 3 and Rs 2.87 per litre, respectively, the 24NewsHD TV channel reported on Thursday.
According to sources well placed in OGRA, if approved, the price of petrol will rise from Rs 248.38 to Rs 251.38 per litre, while high-speed diesel will increase from Rs 255.14 to Rs 258.01 per litre.
The sources said that the proposal also includes a minor reduction of Rs 0.11 per litre for kerosene oil and Rs 0.04 per litre for light-speed diesel.
The final decision on these adjustments will be made on November 30, with global crude oil price fluctuations being a key factor influencing the move.
Experts highlighted the ongoing volatility in international oil markets as a significant driver behind the proposed price hike.
Reporter: Ashraf Khan