Govt raises petrol price amid margin hike
By MG News | Category Economy | October 31, 2024 at 11:21 PM GMT+05:00
November 01, 2024 (MLN): The government increased the price of petrol despite lower ex-refinery prices amid a decline in international rates.
It hiked petrol price by Rs1.35 a litre to Rs248.38 as Inland Freight Equalization Margin (IFEM) was raised by 112% to Rs7.89 from Rs3.72 per litre.
The price of high-speed diesel (HSD) has also been hiked by Rs3.85 to Rs255.14 per litre.
The new prices comes into effect from November 01 and will remain in place for the next 15 days.
In the previous review, the government had kept the petrol price unchanged but increased the price of HSD by Rs5 per litre.
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