The prices of petrol and diesel are likely to go up to Rs6 per litre on Wednesday for the next fortnight.
According to some reports, the price is estimated to go up by Rs5-6 per litre. Kerosene and diesel prices are expected to rise by about Rs3 and 2 per litre, respectively.
It is pertinent to mention that the final decision will be announced tomorrow.
The global oil price surge is a significant factor driving the expected rise in local fuel prices.
Current prices of petrol and diesel
The ex-depot petrol and diesel prices are Rs252.66 and Rs258.34 per litre. Kerosene’s official rate is Rs162.95.
On December 31, the government increased the prices of these petroleum products.
The government is charging about Rs76 per litre tax on petrol and HSD. Although the General Sales Tax (GST) is zero on all petroleum products, the government charges Rs60 per litre petroleum development levy on both products that normally impact the masses.
The government also charges about Rs16 per litre customs duty on petrol and HSD, irrespective of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are charged by oil companies and their dealers on both products.
