Petrol, diesel jump; LPG becomes cheaper
The government on Tuesday raised the prices of petrol and high-speed diesel (HSD) by 56 paise and Rs2.96 per litre, respectively, effective immediately for the fortnight ending Jan 15. On the other hand, the Oil and Gas Regulatory Authority (Ogra) notified a reduction in liquefied petroleum gas (LPG) prices by Rs4.01 per kg, or 1.58 per cent, for January. In a late-night announcement, the Ministry of Finance said Ogra had worked out the consumer prices of petroleum products in view of the fluctuations in the international market in the last fortnight. The ex-depot price of HSD was increased by Rs2.96 per litre (1.1pc) to Rs258.34 for the next fortnight from Rs255.38 over the past fortnight. Most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.