Consumers may face another increase in petrol price as reports suggest an expected hike of around Rs4 to Rs4.50 per litre from March 1. However, diesel rates might see a slight reduction due to global market trends and exchange rate fluctuations.
According to sources, the final adjustments will be determined on February 28, but early estimates indicate petrol prices could rise due to increased international rates and currency depreciation.
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Meanwhile, high-speed diesel (HSD) and kerosene prices are likely to decline by less than a rupee per litre.
Currently, petrol is priced at Rs256.13 per litre, while HSD stands at Rs263.95 per litre. Kerosene’s official rate is Rs171.65 per litre, though it is sold at much higher prices in the market.
Petrol is widely used in private transport, affecting middle- and lower-class households, whereas HSD plays a key role in commercial transportation and agriculture, influencing inflation.
The government imposes heavy taxes on fuel, including a petroleum development levy of Rs60 per litre on petrol and diesel, along with customs duties and dealer margins. Fuel taxes generate significant revenue, with petrol and diesel sales exceeding 700,000 tonnes monthly.
