ISLAMABAD - The Oil and Gas Regulatory Authority (OGRA) is all set to send a summary to the Finance Ministry, suggesting Rs 3.50/litre increase in petroleum prices.

The ministry has stated that a consistent increase in the Arab Light Crude Oil is being witnessed, and if it continues this way, then the government would raise the petroleum prices by five percent in April.

Sources told NNI that the petrol prices would be increased by Rs 2.10/litre, those of high-octane by

Rs 3.48, high-speed diesel by Rs 2.27 and kerosene oil by Rs 3.8.

However, the government can also reduce the GST to maintain the old prices.

Last month, the government had slashed the price of petrol by Rs 8 per litre, which was received well by people. The current price of petrol is Rs 62.77 per litre and that of high speed diesel, Rs 71.12.

The price of high octane was cut down by Rs 3 per litre, while the PM rejected the recommendation to reduce the price of the kerosene oil.