The government on Saturday raised the price of petrol by Rs8 per litre and that of high-speed diesel (HSD) by Rs5.16 per litre for the next fortnight, according to a press release issued by the Petroleum Division.

Following the increase, the price of petrol has jumped from Rs258.17 to Rs266.17 while the HSD price now stands at Rs280.86.

According to the press release, the government has revised the petroleum products’ prices based on the Oil and Gas Regulatory Authority’s recommendations.

The new prices are effective from March 1, the press release said.

Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and has a direct bearing on the budget of the middle and lower-middle class.

While the heavy 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.