The Oil and Gas Regulatory Authority (Ogra) on Thursday refuted reports of sending a summary to the government recommending an increase in petrol prices.
“Reports circulating on media regarding an increase in prices of petroleum products are based on speculation,” said a spokesperson of the authority.
Earlier in the day, sources in the petroleum division told Ogra has recommended increasing the price of petroleum products by Rs11.95 per litre from January 16.
Sources said that the authority has also recommended increasing the diesel price by Rs9.57 per litre.
The final decision would be taken by the Ministry of Finance headed by Dr Abdul Hafeez Shaikh after consultation with Prime Minister Imran Khan.