Petroleum prices are expected to rise by Rs 24 per litre in the coming fortnight as the crisis-hit government conforms to the tough terms imposed by the IMF.
According to local media reports, another oil surge is predicted as the price of high-speed diesel is expected to rise by Rs24 per litre from August 16, 2023, worsening the situation despite record inflation.
Because diesel prices are predicted to rise by Rs24, the government is expected to raise petrol prices by roughly Rs12 per litre.
The expected price hike could worsen current problems, as fuel and diesel prices were already raised by about Rs20 per litre in the previous revision.
The government continues to raise petroleum prices as the International Monetary Fund (IMF) maintains pressure due to rising costs.
Refined petroleum product prices have recently risen by $13 to $111 per barrel.
