The government plans to make petrol more expensive starting April 1, 2024. Reports say the price could go up by as much as Rs10 per litre. This increase is because the cost of crude oil, which petrol comes from, is going up. If the government makes the full increase, petrol could become more expensive than high-speed diesel (HSD), which is a big change.
The price of petrol might rise from Rs279.75 to Rs289.75 per litre. This increase would also come with an extra charge called the Inland Freight Equalisation Margin (IFEM) of Rs5.01 per litre.
On the other hand, the price of HSD might go down by Rs1.30 per litre. This decrease is because the cost of crude oil for HSD is staying the same. The IFEM for HSD might be Rs3.76 per litre.
This increase in petrol prices worries many people. Petrol is important for things like driving and making goods, so if it costs more, it might make other things more expensive too. People might need to spend more money on petrol, which could be hard for their budgets.
As we get ready for these changes, it’s important for everyone to be prepared for higher petrol costs. People might need to find ways to save money or use less petrol. The government and others will also need to keep an eye on the situation to make sure it doesn’t cause too many problems for people.
