Petrol and diesel prices will be increased by the federal government, from the next two weeks starting January 1.
While the price of high-speed diesel goes up by 2.96 per litre, the price of petrol went up by 0.56 paisa per liter.
Revised fuel prices have taken immediate effect, says a statement released from the Ministry of Finance.
The authorities made the change to balance expenses in the face of shifting domestic and global oil prices.
The market sells high-speed diesel at 258.34 per liter, while gasoline now prices around 252.66 per liter.
The government decided on December 16 to keep petrol prices at Rs252.10 per liter. A notification confirmed no change in the petrol prices at that time.
High-speed diesel now costs Rs255.38 a litre, down Rs3.05 from its previous price.
Prices for kerosene also dropped by Rs3.32 per litre, to Rs161.66. The price of light fuel also fell by Rs2.78 and is now Rs148.95.
Earlier, the government aimed to raise petroleum prices in the country in January 2025. Experts anticipated potential increase of more than Rs4 per litre for diesel.
According to sources within the Petroleum Division, while petrol prices may remain stable, the cost of kerosene could go up by Rs1 per litre.
The committee gave final decision on the matter on December 31. It came after discussions between the finance minister and the prime minister.
“The revision in petroleum prices will be disclosed after receiving the prime minister’s approval,” reports say.
As per the announcement, petrol prices remain unchanged at Rs252.10 per litre. However, high-speed diesel saw a reduction of Rs3.05 per litre, bringing its new price to Rs255.38 per litre.
Additionally, the government lowered kerosene oil prices by Rs3.32 per litre, now standing at Rs161.66 per litre. Light diesel oil also saw a decrease of Rs2.78 per litre, with the new price set at Rs148.95 per litre.
