Sources said FOB price of gasoline have risen from USD

123 per barrel, against which the retail petrol rates are benchmarked, to USD 131. Petrol price was last revised on January 18 when the price was cut by 30 paise to Rs 67.26 a litre in Delhi. The reduction in rates coincided with government decision to give oil firms freedom to raise diesel prices in small monthly dozes to eliminate all of the losses on the fuel. Oil firms hiked diesel price on that day by 50 paise to Rs 47.65 a litre in Delhi. "We will review the prices when they are next due. I cannot say if we will change them or not," Butola said. Sources said the oil firms may decide not to pass on the entire loss on petrol in one go and the likely increase could range anywhere between 50 paise to Re 1. Diesel rates in all probability are likely to be hiked by 40 to 50 paise a litre. Butola said oil firms are currently losing Rs 9.22 a litre on diesel, Rs 31.60 a litre on kerosene and Rs 481.03 per 14.2-kg LPG cylinder.