The government has increased petrol prices by 56 paise per liter and high-speed diesel (HSD) by Rs. 2.96 per liter, effective immediately until January 15.
In a recent announcement, the government Raised petrol and high-speed diesel (HSD) prices. At the same time, the Oil and Gas Regulatory Authority (Ogra) notified a reduction in liquefied petroleum gas (LPG) prices. Petrol is now priced at Rs255.66 per liter, up by Rs3.56, and HSD increased by Rs2.96 per liter, effective immediately for the first fortnight of January.
According to the Ministry of Finance, Ogra revised the consumer prices of petroleum products based on international market fluctuations. This adjustment highlights the Government Raises impact on inflation, especially with HSD, as it powers heavy transport, agricultural equipment, and trains. The hike in diesel prices may lead to increased costs for essential goods like vegetables and other staples.
While the Government Raises taxes on petrol and HSD to about Rs76 per litre, it simultaneously announced a reduction in LPG prices. The new price for an 11.8kg LPG cylinder is set at Rs2,953.36, down from Rs3,000.79 in December. This adjustment is attributed to a 2% drop in Saudi Aramco’s contract price (CP) despite a slight increase in the US dollar exchange rate.
These changes reflect the dual impact of global market trends and local fiscal policies, with the Government Raises measures aiming to balance revenue generation and consumer relief.
