The government is set to increase price of natural gas and petroleum products from July 1, 2013 which will fuel inflation in the country in the wake of a one percent increase in GST (from 16 to 17 percent). Insiders in the Oil and Gas Regulatory Authority (Ogra) claim that the regulator has submitted a summary to the petroleum ministry suggesting Rs 2.66 increase for per litre price of petrol.
The price of diesel is expected to witness Rs 3.66 increase while the rate of light diesel will be raised by Rs 3.00 per litre. Kerosene oil will be increased by Rs 2.50 per litre.
The sources said price of natural gas is expected to be increased by up to 10 percent, to be effective from new financial year. However, exact financial impact on consumers will be notified on the night of June 30.