The interim government implemented a significant petrol price increase on February 1, 2024. A notification issued on Wednesday revealed a substantial surge of Rs 13.55 per liter, pushing petrol prices to a new high of Rs 272.89 per liter. Diesel prices also rose by Rs 2.75 per liter, reaching Rs 278.96 per liter, while kerosene prices experienced a marginal decrease of 24 paisa per liter.
The revised price for light diesel oil is now set at Rs 166.86 per liter, following a Rs 2.3 per liter increase. Prior to this adjustment, the Oil and Gas Regulatory Authority (OGRA) announced a Rs 17 surge in LPG prices, now at Rs 257.60 per kilogram. Consequently, the new price for a domestic LPG cylinder is Rs 3,400, effective throughout February 2024.
These approved price adjustments respond to global oil price fluctuations and economic considerations. Consumers and businesses grapple with the implications of these increases, anticipating an impact on transportation costs and daily expenses. The government’s response to volatile global oil prices highlights challenges in maintaining energy sector stability.
Staying informed about economic changes is crucial, given their direct influence on the cost of living and business operations. As the nation navigates these adjustments, the impact on various sectors and the overall economy remains uncertain in the coming months.