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Summary According to officials of the Ministry of Petroleum, final decision will be made tonight.
The officials said that the decision was being taken keeping in view the surge in POL prices in international market. They claimed that oil prices in international market increased by 5 percent, therefore, an increase of Rs 4-5 per litre was being made from midnight on Sunday.The Oil Gas Regulatory Authority (OGRA) has prepared a summary, recommending an increase of Rs 4-5 in petrol prices, Rs 5.57 in diesel, Rs 4-5 in kerosene oil and Rs 4 per litre in high-octane prices.According to sources, the government will have to bear Rs 12 billion losses if the petroleum prices remain unchanged.
