The Oil and Gas Regulatory Authority (OGRA) on Friday raised petroleum products’ prices, with a substantial hike of Rs4.88 per litre in petrol price.

According to sources, petrol price has been increased by Rs4.88 per litre, light diesel by Rs4.14 and the price of kerosene oil has been raised by Rs3.75 per litre.

The new prices of petroleum products would be effective from January 1.