The prices of petrol and diesel are expected to increase in the next fortnight, with petrol likely to become costlier by around Re1 per litre and diesel by Rs5 per litre, according to sources familiar with the matter. The adjustment, effective until June 30, is attributed to rising international market rates.
Currently, the ex-depot price of petrol stands at Rs252.63 per litre, while high-speed diesel (HSD) is priced at Rs254.64 per litre. Petrol is widely used in private vehicles, motorcycles, and rickshaws, directly impacting middle- and lower-income households. On the other hand, diesel, which fuels trucks, buses, and agricultural machinery, has a significant effect on transportation and food prices, often contributing to inflation.
Read More : Petrol Prices Likely to Drop Significantly from April 16
The government imposes multiple taxes on petroleum products, including:
- Petroleum Development Levy (PDL): Rs77.01 per litre on diesel and Rs78.02 on petrol.
- Customs duty: Approximately Rs16 per litre on both fuels.
- Distribution and dealer margins: Around Rs17 per litre.
Despite the absence of general sales tax (GST) on petroleum products, the cumulative taxes keep fuel prices high. Notably, transport fares rarely decrease even when diesel prices drop, further burdening consumers.
The final pricing will be confirmed on June 15 after a review of global oil trends and tax calculations.
