The government is expected to raise petrol prices by Rs3.95 per litre and diesel by Rs10.26 per litre from October 16, which may contribute to inflationary pressures. This increase is attributed to the ongoing geopolitical tensions in the Middle East.
Currently, Brent crude is priced at $79.04 per barrel, while WTI crude stands at $75.56. Based on the latest 12-day data, petrol prices may rise to Rs166.68 per litre from Rs162.73, and diesel prices could reach Rs175.72 per litre, up from Rs165.26. Kerosene oil is projected to increase by Rs7.85, with light diesel oil expected to climb by Rs8.33 per litre.
The price adjustments include government taxes and the Inland Freight Equalisation Margin (IEFM).
