The government plans to raise petrol and diesel prices soon. The rise will start in late July 2024.
Experts say petrol may go up by Rs. 7.67 per liter. Diesel may rise by Rs. 3.72 per liter. Kerosene oil may increase by Rs. 2.39 per liter. Light diesel oil (LDO) may go up by Rs. 0.92 per liter.
Global oil prices and currency rates affect these changes. Petrol may cost Rs. 273.28 per liter in July. Diesel may reach Rs. 281.25 per liter. Kerosene oil may be Rs. 184.25 per liter. LDO may cost Rs. 166.65 per liter.
The tax and dollar rate changes are key factors. The Inland Freight Equalisation Margin (IFEM) also plays a role. IFEM for petrol may rise from Rs. 6.12 to Rs. 7.79. For diesel, it may go from Rs. 3.11 to Rs. 4.51.
An extra petroleum levy could push prices higher. If the levy adds Rs. 5 per liter, petrol could cost Rs. 278.28 per liter. Diesel could reach Rs. 286.17 per liter.
These changes affect everyone. Higher fuel costs impact daily life. Many hope for a solution soon. The government must balance needs and prices.
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