Overview
- Petrol stays at Rs253.17 per litre and high-speed diesel at Rs257.08 per litre for the fortnight beginning January 16, according to official notifications.
- The petroleum levy was raised by Rs4.65 per litre on petrol and Rs0.80 on diesel, lifting the charges to Rs84.27 and Rs76.21 respectively, while retail prices were held steady.
- Expectations for a further Rs4–5 per litre reduction, after roughly Rs12 of petrol relief over two months and earlier fortnightly cuts, did not materialize.
- International crude climbed to nearly $63 per barrel and the rupee slipped toward Rs280 per dollar, factors analysts say narrowed scope for price reductions.
- Substantial taxes remain embedded in pump rates, and an IMF commitment to lift the petroleum levy to Rs100 per litre next fiscal year sustains upward pressure, with diesel costs feeding transport and food inflation.