Oil and Gas Regulatory Authority (OGRA) is all set to send a summary to Finance Ministry, suggesting up to Rs 3.50/litre increase in petroleum products' prices. The ministry has stated that a consistent increase in Arab light crude oil is being witnessed and if it continues then the government will raise the petroleum products' prices by five percent in April.
Sources said that the petrol prices will go up by Rs 2.10/litre, High Octane Rs 3.48, High Speed Diesel Rs 2.27, kerosene oil by Rs 3.8 and light diesel will go up by Rs 2.38 /litre. However, there are possibilities that the government can adjust the hike by reducing GST to maintain the old prices.