Government is Planning Another Increase in Petrol Prices Media Report

Government is Planning Another Increase in Petrol Prices Media Report
Government is Planning Another Increase in Petrol Prices Media Report

According to a recent media report, while prices of the fuel have already increased twice in January 2021, the government expects to lift fuel prices further. The study indicates that the Government is preparing to continue to increase petroleum prices by Rs. 1.03 to Rs. 110.23 per L/HSD by Rs. 0.95 per L to Rs. 114.14 per L/HSD.

An increase by Rs. 0.45 per unit and an increase of Rs. 0.58 per litre in dealers’ commission margins shall be demanded for motor spirit (petrol). The description also requires an improvement in OMCs, HSD margins of Rs. 0.45 per litre and a benefit commission of Rs. 0.50 per litre for dealers.

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The report also notes that the Oil Division provided the Economic Coordination Committee with a review of the developments (ECC). In addition, a conference is called for today to pursue a rise in margins for petroleum marketing undertakings (OMCs).

This means that from the current Rs 2.81 per liter, OMCs’ margin of one liter per petrol must be moved up to Rs 3.26 per L. In addition, the dealer commission is expected to grow to Rs. 4.28 per liter.

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