There is a possibility of a significant increase in the prices of petroleum products once again in the country.
Sources suggest that the price of petrol may increase by Rs. 9.50, potentially raising the new price from Rs. 279.75 to Rs. 289.25 per liter.
Petroleum dealers have demanded an increase in margins once again.
It has been reported that the price of diesel may also increase by Rs. 0.86, taking it up to Rs. 285.56 per liter.
There is also information that the government intends to increase petroleum levy from Rs. 60 to Rs. 100. Multiple adjustments have been observed in the Petroleum Development Levy in recent years, with a significant increase during the fiscal year 2023.
The demand for petroleum products reached its lowest point in 5 months.
Initially, in July 2022, the petroleum levy on petrol was set at Rs. 20 per liter, which was then increased to Rs. 50 per liter in November 2022 and further raised to Rs. 60 per liter by September 2023.
