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Potential Increase in Petrol, Diesel Prices from Feb 16

On Feb 16, govt is likely to increase the prices of petrol once again.

With the government likely to hike petrol prices again, the price of high-speed diesel may increase by Rs 8 per liter on the night of Feb 16.

Tomorrow will confirm the decision, but it relies on adjustments concerning premium rates and exchange rates.

If the proposed adjustment is implemented, the price of high-speed diesel will increase from Rs 285 to Rs 293 per litre. These calculations are based on the current rates of Petroleum Levy and General Sales Tax for the next fortnight beginning February 16.

The government is also considering keeping the price of kerosene (kero) but may revise the price of light diesel oil (LDO) by Rs 2.5 per litre.

The good news is that there won’t be a rise in gas costs during the upcoming fortnightly review, which means that gas prices should stay the same.

The country’s petroleum prices stayed high for the most of the current fiscal year. The price of gasoline increased by Rs 13 55 paise on January 31, 2024.

Also read this: Petroleum Product Prices Likely to Increase in February

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