Petrol prices are expected to rise by Rs 7-10 per litre

Business

From October 16, the price of motor gasoline (petrol) is set to rise by Rs7 per litre, while the price of high-speed diesel (HSD) is likely to rise by Rs10 per litre.

“We calculated the massive increase in the price of both goods based on the first ten days data, which shows that refined product prices have risen from $79 to $91 a barrel since October 1,” industrial sources said.

According to the sources, the government may not be able to cut the raised POLprices this time since it wants to make the IMF programme effective and is in talks with the IMF.

The government has passed on the increase in fuel prices of Rs 9 per litre and high-speed diesel prices of Rs 7.01 per litre to consumers in the last two fortnights.

The MS price was raised by Rs5 per litre to Rs 123.30 per litre, and the HSD price was raised by Rs5.01 per litre to Rs 120.04. It also increased the price of motor gasoline by Rs4 per litre to Rs127.30 per litre, and HSD by Rs2 to Rs122.05 per litre, effective October 1. And, if the government raises POL prices again on October 16, as planned, it will be the third increase in POL prices in a row.

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