To secure the resurrection of the IMF programme, the government increased fuel prices by up to Rs8.14 per litre with immediate effect on Thursday night, setting a new record.
The government increased the price of fuel and high-speed diesel by Rs8.03 and Rs8.14 per litre, respectively, based on tax rates, import parity price, and currency rate.
Kerosene and light diesel oil rates were also raised by Rs6.27 and Rs5.72 per litre, respectively.
The announcement set the ex-depot price of fuel at Rs145.82 per litre instead of Rs137.79, representing a Rs8.03 rise.
The product is primarily utilised in private transportation, small vehicles, rickshaws, and two-wheelers, and it has a direct impact on middle- and lower-middle-class budgets.
All petroleum products are now priced at more than Rs110 a litre for the first time in the country’s history.