Petroleum prices are likely to increase by Rs 5 per litre

The government is likely to increase the petroleum prices by Rs 5 per litre from January 01, next year, sources said Saturday.
Official sources of the Oil and Gas Regulatory Authority (OGRA) said that keeping in view the international prices OGRA has recommended the federal government to increase the oil prices.
Sources informed that there is no change expected in the prices of Kerosene oil.
OGRA has recommended the government to increase the price of high octane oil (HOBC) by Rs 5 per litre, high speed diesel oil (HSDO) by Rs 1.5 per litre, and light speed diesel (LDO) by 1.5 per litre.
After this expected increase in the prices, HOBC would be sold at Rs 111.72, HSDO at 100.33 per litre, LDO at Rs 87.28 per litre and kerosene oil would be sold at Rs 89.24. Petroleum prices would be determined on December31.
Experts believe that this increase on the first day of the next calendar year would increase the prices of basic life commodities as transport prices would be increased after it.