There is a likelihood of petroleum prices rising starting February 16th

Amidst escalating international oil prices due to unrest in the Middle East, there are indications of yet another hike in petrol and diesel prices during the latter half of February 2024. Local media sources suggest that high-speed diesel (HSD) and light diesel prices could see an increase for the upcoming fortnight, while petrol prices are anticipated to remain unchanged as of February 16, 2024. The government is expected to adjust petrol and diesel prices in response to the surge in global oil prices driven by tensions in the Middle East. However, the current administration might opt to maintain the status quo, postponing decisions for the incoming government to address.

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