Feb 11, 2019 (LBO) – Government today revised the fuel prices and accordingly the prices of one liter of Petrol Octane 92 and the Auto Diesel have been increased by 6 rupees and 4 rupees respectively.
The Finance Ministry said according to the latest international market price of crude oil, the price of diesel should have been increased by 9.59 rupees.
But the government considering its effects has decided to increase the price of diesel by 4 rupees to 103 rupees per liter.
The government stresses that there is no reason for the fare increase in any of the transport or other logistics sectors on par with this latest fuel price revision.
Accordingly, the new prices, which come into effect from midnight today, are as follows.
|Type of Fuel||Present Price/Liter (Rs)||Revised Price/Liter (Rs)||Revised By (Rs)|
|Octane 92 Petrol||123||129||6|
|Octane 95 Petrol||147||152||5|
Fuel prices are reviewed every 10th day of the Month under the fuel pricing mechanism introduced in May 2018.
When the oil prices were upwardly revised on the last October 10, the price of a barrel of crude oil had gone up to US Dollar 84.
It came down to USD 70 by November 2018 and it was reported to be 53 when the fuel prices were last reduced on January 10, 2019.