This is likely after the days of global oil slump have been left behind and prices have been on a rebound. Currently the price of crude oil is hovering around $40 per barrel in the international market.
The price of petrol is expected to increase by Rs. 2.68 and high-speed diesel by Rs. 3 per litres, an Oil and Gas Development Authority (OGRA) source revealed. However, the price of High Octane, kerosene and light diesel will remain unchanged. The increase in prices is due to a rise in GST.