Govt hikes petrol by Rs14.92 per litre, diesel by Rs15 has drawn attention as part of the latest developments being reported. Below is a cleaned summary based on the feed item.
The government raised the price of petrol by Rs14.92 per litre and that of high-speed diesel (HSD) by Rs15 on Friday. Following the increase, the price of petrol stands at Rs414.78 per litre and HSD’s at Rs414.58. The Petroleum Division’s press release notifying the increase said the new prices would be effective from May 9. Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and has a direct bearing on the budget of the middle and lower-middle class. High-speed diesel is mainly used in the heavy transport sector and for large generators. Petrol and high-speed diesel are the major revenue spinners with their monthly sales of about 700,000 to 800,000 tonnes compared to just 10,000 tonnes of monthly demand for kerosene.
Why this matters
This update matters because the government raised the price of petrol by Rs14.92 per litre and that of high-speed diesel (HSD) by Rs15 on Friday.
Source: Original report
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