Fuel Prices Increased Again from July 16: Petrol Up by Rs5.36, Diesel by Rs11.37
The government has once again raised the prices of petroleum products, with the latest hike taking effect from July 16, as announced by the Finance Division on Tuesday.
The price of petrol has gone up by Rs5.36, bringing the new rate to Rs272.15 per litre, while high-speed diesel (HSD) has been increased by Rs11.37, now costing Rs284.35 per litre.
According to the Finance Division, the new rates were determined based on recommendations from the Oil and Gas Regulatory Authority (OGRA) and consultations with relevant ministries.
This marks the second consecutive bi-monthly increase in fuel prices. Earlier this month, petrol saw a rise of Rs8.36 per litre, and diesel increased by Rs10.39 per litre, mainly due to shifts in international oil prices.
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Petrol is widely used in motorcycles, rickshaws, and small cars, so the price hike will disproportionately impact middle- and lower-income households who rely on it for daily transportation.
Diesel, on the other hand, is essential for the transport and agriculture sectors, powering trucks, buses, trains, tractors, and tube wells. Its price rise is considered highly inflationary, as it leads to higher transportation costs and contributes to the rising prices of vegetables and other essential food items.