The petrol and diesel prices may increase by Rs10-17 per litre from August 1, despite the fact that prices of petroleum products and crude oil remained just a little lower.
However, the increase has been estimated upwards just because of the fact that the exchange rate has gone crazy.
According to sources, the hike by Rs10 in petrol and Rs16-17 in diesel prices has been estimated without the inclusion of the petroleum levy (PL). And in case the government increases the petroleum levy of Rs5 per litre on petrol, then Mogas price has been projected at Rs15 per litre and diesel at Rs23 per litre.
The expected rise in POL prices has also been worked out without the inclusion of an increase in dealers’ margins (DMs) on POL price by Rs2.10 per litre on petrol and Rs2.87 per litre on diesel to Rs7 per litre approved by ECC here on Thursday. And if Rs2.10 in the price of petrol is added, then its price may increase 17.10 per litre and Rs2.87 is added, then diesel price may go up to Rs25.87 per litre.
