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Petrol Price Increased by Rs. 116 in 2023

Petrol Price Increased by Rs. 116 in 2023. Under the interim caretaker administration, which has been in place since August 15, there has been a notable escalation in fuel prices. During this period, the cost of petrol has surged by Rs. 58.43 per liter, while the price of high-speed diesel has seen an increase of Rs. 55.84 per liter.

Read More: Petrol Price Increased by Rs.26.02

Petrol Price in Caretaker Setup

On August 15, the caretaker government initiated the price hikes, raising petrol rates by Rs. 17.50 per liter and high-speed diesel prices by Rs. 20 per liter. Subsequently, on September 1, another round of increases took place, with petrol prices surging by Rs. 14.91 per liter and high-speed diesel costs climbing by Rs. 18.44 per liter.

In the most recent review of petroleum prices, the largest spike occurred, with petrol prices jumping by Rs. 26.02 per liter to reach Rs. 331.38, while high-speed diesel prices also increased significantly by Rs. 17.34 per liter, reaching Rs. 329.18. Petrol Price Increased by Rs. 116 in 2023 has ruined the lives of many people. Prompt action is required to provide relief to the needy.

Read More: Petrol Price to Rise up to Rs. 12 per Liter from September 2023

At present, GST is zero on all petroleum products, but the government is charging Rs60 per liter petroleum development levy (PDL) on petrol and Rs50 each on HSD and high octane blending components and 95RON petrol. The government is also charging about Rs18 to Rs22 per liter customs duty on petrol and HSD.

Petrol and HSD are the major revenue spinners, with their monthly sales of about 700,000-800,000 tonnes per month compared to just 10,000 tonnes of monthly demand for kerosene.

For more information, please visit Munafa Marketing.

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