The prices of petroleum-based products are likely to be scaled by an increment of Rs. 5 per liter starting from 1st September.
Sources highlight heavy taxes and the imposition of petroleum levy as the key reasons for the possible rise in the prices of petroleum products. The price of petrol is likely to be increased by Rs.4.50 per liter while high-speed diesel might see an increment of Rs.5 per liter.
The government will determine the new prices on the 31st of August. Petroleum prices will see a change every15days staring from September as per the decision made by the Economic Coordination Committee (ECC). Current prices will remain in place till the end of August.
Presently petrol is selling for Rs.100.10 per liter while diesel for Rs.101.46 per liter.