The Oil and Gas Regulatory Authority has prepared two separate proposals, recommending increase in the price of petrol by Rs3.5 and Rs8 per litre. It would send the summary to the government Sunday.
The first proposal has been prepared in the light of prices of petroleum products in the global market, OGRA sources said. According to this proposal, the price of petrol would go up by Rs3.5 and that of high-speed diesel by Rs3.75 per liter.
The second proposal was made in the light of keeping the petroleum levy on petrol and diesel at Rs30. Under this proposal, the petrol price would be increased by Rs8 while high-speed diesel would go up by Rs9 per litre.
The summary of increase in petroleum prices would be forwarded to the Petroleum Division Sunday. The final approval regarding revision of prices rests with Prime Minister Imran Khan.
The prices of petroleum products will be revised for 15 days. They would be effective from September 1.
Petrol went short at several fuel stations in Karachi following unprecedented rains in the megapolis earlier this week.
Rainwater entered underground storage tanks due to torrential rains, says Abdul Haseeb Khan of the All Pakistan Petroleum Dealers Association. Urban floods in the city also impacted the supply to fuel stations.
The government and oil companies did not take any measures in this regard, according to Khan. The supply may remain affected because of Muharram processions.