Petrol and diesel prices were hiked by around Nu 3 a liter by today morning. India revised their fuel price by the same rate Saturday.
The increase was a result of rising global fuel price, which according to Indian media reports rose to US$ 62.5 a barrel. A month ago, global fuel prices were trading at US$ 45 a barrel.
This is the second hike in February. The first hike this year came around February 16 on account of rise in global fuel price as well as rupee dollar fluctuation.
After the hike, petrol will cost Nu 60.78 in Thimphu and 58.8 a litre in Phuentshogling
Diesel will cost Nu 52.3 in Thimphu and 50.6 a litre in Phuentshogling.
Given the hike in fuel prices, inflation, which has been on a downward trajectory since June last year, is likely to climb again.
