ISLAMABAD, (DNA) – The Oil & Gas Regulatory Authority (OGRA) on Friday submitted a summary to the petroleum division recommending that the petrol prices should be increased by at least Rs4.50 per liter starting from October 1.

The regulatory authority has forwarded a summary to the petroleum division suggesting an increased of at least Rs4.50 in the oil prices.

The summary also refers to other petroleum products whose prices should be increased under monthly readjustment formula.

It is recommended that the rate of high speed diesel be increased by Rs4 per liter, while the rate of light diesel price proposed to be increased by Rs3.50 per liter.

Ogra has submitted details of the proposed summary to the petroleum division and subsequently the decision over new prices will be taken after approval of the prime minister.

Earlier, Pakistan State Oil (PSO) had submitted to Supreme Court of Pakistan a report during hearing of case pertaining to hike and inflated rates of petrol, gas, electricity.