The federal govt has increased petrol price by Rs 8 per litre, Hi-Octane by
Rs 5.13 per litre while price of High Speed Diesel will be lowered by
Rs 0.10 per litre( which is very nominal)
in order to maintain the prices of kerosene oil and Light Diesel Oil.
Apart from this govt has also increased the prices of CNG by Rs. 8.50.
New price of CNG is now RS. 88 per kg.
New petrol price is Rs. 103 per litre.
Rupee devaluation has the biggest effect on petrol and other related
petroleum product prices.
The govt has decided to cut all subsidies on petroleum, gas and
electricity due to financial problems and high budget deficits thus we
can expect further increase in CPI inflation due to increase in these
essential commodities and basic necessities of life.