Petrol price likely to go up by Rs14.37 for May.

ISLAMABAD -- The Oil and Gas Regulatory Authority (Ogra) has recommended increasing oil prices by as much as Rs14.37 for the month of May.

In a summary moved to the Petroleum Division on Monday, the Ogra proposed that the price of high speed diesel (HSD) be raised by Rs4.89 per litre and petrol price be hiked by Rs14.37 per litre for the next month.

The regulator has also requested an increase in prices of kerosene oil of Rs7.46 per litre while a rise of Rs6.40 per litre has been recommended for light diesel oil (LDO).

If the government accepts this recommendation, then diesel prices would inflate to Rs122.32 per litre, petrol to 113.26 per litre, LDO to Rs86.94 per litre and kerosene oil would go up to Rs96.77 per litre.

Prime Minister Imran Khan will take the final decision over the price hike after consultations with the petroleum and finance ministries.

Last month, the government had raised the oil prices by up to Rs6 per litre for April in line with...