The prices of petrol and other major petroleum products are estimated to go up by more than Rs4.5 per litre because of rising trend in the international market caused by reports of a looming US attack on Syria.
The Oil and Gas Regulatory Authority (Ogra) has sent a summary to government for the increase in prices of POL products.
However, the final decision will be taken today (Saturday) while the new prices will be effective from September 1.
According to OGRA sources, the ex-depot prices of both petrol and kerosene oil may go up by Rs4.50 per litre. Therefore, the ex-depot price of petrol may be increased to Rs 109 per litre from Rs 104.5.
Likewise, the ex-depot price of kerosene oil will go up to Rs 105.78 from Rs 101.28 per litre and of high speed diesel to Rs 113.06 from Rs 109.76.
The price of light diesel oil (LDO) will be increased by about Rs 2 per litre to Rs 98.12 and of high octane blending component (HOBC) to about Rs 5 per litre to Rs 134.
The retail price of petroleum is usually 30-40 paisa per litre more than the ex-depot price fixed by the government because of transportation cost from depots to the retail outlets.
The retail price of petroleum will be 30 to 40 paisa more than the ex-depot price per liter.