Govt all set to drop petrol bombshell on the people

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ISLAMABAD:   Oil and Gas Regulatory Authority (OGRA) has sent summary on hike in the prices of petroleum products by Rs 12 per litter from February 12 to petroleum division.

Sources said OGRA has forwarded the summary seeking increase in the prices of petroleum products to petroleum division. Upsurge in the prices of petrol by Rs 12 per litter and diesel by Rs 10 per liter has been proposed in the summary.

Sources said that OGRA worked out summary of hike in the prices of petroleum products on the basis of Rs 30 per liter levy. Levy is in place at the rate of Rs 21.56 per liter on petrol and Rs 23.09 per liter on diesel.

Sources said the government can bring down the proposed hike to the lowest level by not increasing levy or it can maintain the existing prices of petroleum products by making a minimal decrease in the levy.