The government is once again preparing to burden the inflation-hit public with a petrol price hike. Sources indicate a strong possibility of an increase in petroleum product prices for the next fifteen days.
According to reports, petrol prices are expected to rise by Rs11 per litre, while diesel may go up by Rs15 per litre. OGRA will send the new price summary to the Ministry of Petroleum today, after which the Finance Minister will announce the final prices following consultation with the Prime Minister.
Due to the continuous rise in global crude oil prices and the depreciation of the rupee, the increase in petroleum prices is considered inevitable.
Sources also confirm that the final decision on new prices will be made by the Finance Minister in consultation with the Prime Minister.
It is worth noting that the expected hike in petroleum prices is attributed to rising crude oil prices in the international market and the ongoing devaluation of the rupee.
