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The government has increased petrol and diesel prices for the second time in a row.
Petrol has been made costlier by Rs. 3.47 per liter, and high-speed diesel (HSD) by Rs. 2.63 per liter, effective from midnight.
After the increase, the price of petrol has been set at Rs. 256.13 per liter, while HSD will be available at Rs. 260.95 per liter.
It is worth noting that a few days ago, it was indicated the possibility of an increase of up to Rs. 6 per liter in the prices of high-speed diesel, petrol, and kerosene oil due to rising prices in the global market.
At the beginning of the new year, the government had also raised the price of petrol by 56 paisa per liter, bringing it to Rs. 252.66 per liter.
According to the notification issued at that time, the price of diesel was increased by Rs. 2.96 per liter, setting it at Rs. 258.34 per liter, effective from January 1 to January 15.
Petrol is primarily used in private transportation, small vehicles, rickshaws, and two-wheelers, directly impacting the budgets of the middle and lower-middle classes.
The government collects approximately Rs. 16 per liter in customs duty on petrol and HSD, regardless of whether these products are locally produced or imported. Additionally, oil companies and their dealers charge a distribution and sales margin of around Rs. 17 per liter on both products.
