ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has recommended a hike in the ex-depot prices of petrol and high-speed diesel (HSD) with effect from July 1.

In a fortnightly review, the OGRA has recommended Rs6 per litre in the price of petrol and Rs3 per litre in the price of HSD for first half of July.

The regulator has worked out the prices on the basis of 17 percent general sale tax (GST) and current rate of petroleum levy (PL).

The increase in the rate of petroleum products were recommended owing to hike in oil prices internationally in the last 15 days and the rupee dollar parity.

The summary has been sent to the Petroleum Division.

Federal government will announce new prices of petroleum products by adjusting rate of the PL.