Govt Hikes Petrol Price by Rs13.55 per Liter

In a fresh blow to inflation-hit consumers, the caretaker government has increased prices of petrol by Rs 13.55 per liter and High-Speed Diesel (HSD) by Rs 2.75 per liter effective from February 1 as recommended by the Oil and Gas Regulatory Authority (OGRA).

After the increase, petrol which was available for Rs 259.34 will now be sold at Rs 272.89 a liter and HSD which was sold at Rs 276.21 will be available at Rs 278.96 per liter. The government however has sustained the price of kerosene oil and light diesel oil (LDO).

The estimated import premium on petrol stands at $9.47 per barrel. Simultaneously, the premium on HSD is expected to rise to $6.50 per barrel, up from $5.30 per barrel in the current fortnight.

The price of Brent went up by more than $3 per barrel to $83 from $78 per barrel since January 16 while HSD had become costlier by about $2 per barrel to $97 from about $95 per barrel during the same period.

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