OGRA has submitted summary to the ministry of petroleum and ministry of finance, proposing increase of Rs 8.37 per liter in the price of petrol, if approve the new price would be Rs 96.07 per liter. High speed diesel price is likely to see an increase of Rs 12.50 per liter to Rs 111.26 per liter.

While kerosene oil to see a rise of Rs 8.23 per liter and light diesel up by Rs 11.65 per liter, following the rise new price would be Rs 88.10 and RS 80.50 per liter respectively.

The petroleum levy on high speed diesel would be Rs 8 per liter, petrol Rs 10 per liter, kerosene Rs 6 per liter and LDO Rs 3 per liter.

The effective tax rate or sales tax on these products would be 31 percent on diesel, 17 percent each on petrol, kerosene and light diesel oil.