The government on Saturday increased the price of petrol by Rs 8 per liter and high speed diesel (HSD) by Rs 5.16 per liter for the next fortnight, according to a press release issued by the Petroleum Division.
Following the increase, the price of petrol jumped from Rs 258.17 to Rs 266.17, while the price of HSD now stands at Rs 280.86.
According to the press release, the government revised the prices of petroleum products based on the recommendations of the Oil and Gas Regulatory Authority.
The new prices will take effect on March 1, according to the press release.
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers and has a direct influence on the budget of the middle and lower-middle class.
Although the heavy transport sector is powered by HSD, its price is considered inflationary as it is mainly used in heavy transport vehicles, trains and agricultural engines such as trucks, buses, tractors, tube wells and threshers, and in particular increases the prices of vegetables and other grocery products.
Source: https://www.dawn.com/news/1976674/govt-hikes-petrol-price-by-rs8-high-speed-diesel-by-rs5