(Web Desk) — Fuel prices are set to rise significantly starting tomorrow, July 1, 2024. Industry insiders suggest an increase of up to Rs 9.84 per litre during the first half of the month.

According to the private TV channel reports, petrol prices are expected to rise by about Rs 7.54 per litre, while high-speed diesel (HSD) could see a steeper increase of Rs 9.84 per litre. Light diesel oil (LDO) is projected to climb by Rs 8.73 per litre, and kerosene oil may increase by Rs 7.70 per litre.

Based on the current tax structure, these adjustments would result in consumers paying Rs 265.70 per litre for petrol, Rs 277.73 per litre for HSD, Rs 179.51 per litre for kerosene oil, and Rs 164.85 per litre for LDO. These estimates do not factor in any changes to the exchange rate.

If the government raises the petroleum levy (PL) by Rs 5 per litre, petrol prices could jump by Rs 12.54 per litre, and diesel could increase by Rs 14.84 per litre starting next month.

These potential fuel price hikes are expected to heavily impact consumers, adding to the overall burden of inflation in the country.