After taxes in budget, fuel prices also jacked up

After offering relief to consumers in the last three revisions of oil prices, the federal government increased the prices of petroleum products by up to Rs9.56 per litre on Sunday in view of fluctuations in the global fuel prices. The new rates are taking effect on the first day of a tax-laden budget. According to a notification, the price of petrol was raised by Rs7.45 per litre, while the high-speed diesel (HSD) went up by Rs9.56 per litre. The finance ministry issued the notification regarding the increase in petroleum product prices, saying that the new prices would take effect from Monday (today) and remain in place for the next 15 days. The price of petrol had been increased from Rs258.16 to Rs265.61 per litre, while the price of HSD was increased from Rs267.89 to Rs277.49 per litre, according to the notification.