Petrol prices likely to rise from Nov 1

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The Oil and Gas Regulatory Authority (OGRA) suggested raising the prices of petrol, diesel and high octane blending component and kerosene on Thursday.

The move, if approved by the Prime Minister, will see a rise in the price of high octane blending component (HOBC) by Rs5.73 per litre, kerosene oil by Rs3.89 per litre, petrol by Rs5.28 per litre, high speed diesel (HSD) by Rs3.34 per litre,  and light diesel oil (LDO) by Rs2.70 per litre.

The government had kept the prices unchanged for the past month, but an increase in prices could result in more money on account of General Sales Tax (GST). However, the use of petrol had increased because of the reduction in lack of compressed natural gas (CNG). While the government is providing liquefied natural gas (LNG) for CNG retail outlets, the supply has been irregular.