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The government dropped another petrol bomb on the people as it approved Rs4.26 per litre hike in petrol price effective from June 1.

After the increase, the price of petrol would be Rs112.68.

The Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs8,53 per litre in petrol price for the month of June.

Meanwhile, the price of high-speed diesel has been increased by Rs4.50 per litre, kerosene by Rs1.69 and light diesel oil by Rs1.68. The new per litre price of HSD would be Rs126.82; kerosene would be available at Rs98.46, while light diesel oil would be sold at Rs88.62.

OGRA had proposed a hike of Rs8.99 per litre for HSD, Rs1.69 for kerosene and Rs1.68 for LDO under the monthly fuel charges for June 2019.

Despite a reduction in international crude price, the government is likely to approve a substantial increase in the prices of major petroleum products for the month of June because of currency devaluation.

A senior government official told that the Oil and Gas Regulatory Authority (Ogra) on Thursday moved a summary to the government containing calculations on petroleum prices on the basis of existing rates of general sales tax and petroleum levy.

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