The price of petrol in the world market increased by 7 dollars per barrel to 97 dollars per barrel
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For the next 15 days, there is a possibility of a big increase in the prices of petroleum products.
According to Business Recorder, after the continuous increase in oil prices at the global level during the last 15 days, the price of petrol is expected to increase by 14 rupees per liter and the price of high speed diesel by 24 rupees per liter.
The government has already increased the prices of petrol and high-speed diesel by around Rs 20 from August 1, 2023.
International Monetary Fund (IMF) loan conditions forced the government to pass on the burden of rising commodity prices to the public.
Over the past two weeks, prices of refined products have increased by $13 per barrel to $111 per barrel and petrol prices have increased by $7 per barrel to $97 per barrel.
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It may be noted that the government is levying a petroleum levy of Rs 55 per liter on petrol and Rs 50 per liter on high-speed diesel, a possible increase in their prices may affect inflation in August.
