ISLAMABAD: A month after a reduction in prices of petroleum products, Prime Minister Nawaz Sharif on Thursday approved an increase in the prices of petrol and hi-speed diesel. The prices have been increased due to “fluctuation in the global prices” and they would be effective from April 1. The decision was taken after the Oil and Gas Regulatory Authority moved a summary to the petroleum and finance ministries. The prices of the two products were raised by Rs 1.50 and Rs 1.40 per litre, taking them up to Rs 64.27 and Rs 71.12 from the previous Rs 62.77 and Rs 72.52 per litre. The government also increased the prices of jet fuel by 14.8 per cent. The price of JP-1 was increased by Rs 3.68 per litre (11.3 per cent), JP-4 Rs 4.15 (14.1 per cent) and JP-4 Rs 4.65 per litre (14.8 per cent).