ISLAMABAD: Price of petroleum products is likely to be increased by Rs 13.60 per liter as OGRA has sent summary to government to determine the prices of petroleum products.

OGRA has sent two proposals to government about the prices of petroleum products. The proposal for imposition of 5 percent GST on petrol and diesel per liter is included in these two proposals.

In the event of imposition of 2 percent GST, the price of petrol is likely to be increased by Rs 5.44 per liter and in the case of levying of 5 percent GST, the price of petrol is likely to be enhanced by Rs 13.60 per liter.

Proposal has also been sent to impose levy from Rs 5 to 10 on diesel besides increasing the price of diesel from Rs 10 to 15 per liter.

OGRA has also given proposal to maintain the prices of petroleum products.

The international market has registered record reduction in the prices of crude oil during the last 15 days. During this period the price of crude oil 74 dollars per barrel in international market.

The final decision about prices of petroleum products will be made by finance minister Ishaq Dar in consultation with Prime Minister Shahbaz Sharif.