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Hike in petrol prices likely

According to Oil and Gas Regulatory Authority (OGRA) sources, petrol price is expected to increase by Rs. 2.75 per litre and the per litre cost of High Speed Diesel may likely be hiked by Rs. 2.50.

The cost of high octane fuel and light diesel can be increased upto Rs. 3.00 per litre while the price of kerosene is also expected to rise by Rs. 2.50 per litre, sources said.

It is being said that the fuel rates are being adjusted according to the prices in the international market. The crude price in the world market stood nearing $48.00.

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