Diesel Price Rises to Rs260.95 with Rs2.61 Increase
The federal government has announced an increase in fuel prices for the next fortnight, effective from January 16. The price of petrol has been raised by Rs3.47 per litre, bringing the new price to Rs290.45 per litre. High-speed diesel (HSD) prices have also increased by Rs2.61 per litre, reaching Rs260.95, as per a notification from the Finance Division.
According to the Oil & Gas Regulatory Authority (OGRA), the revised prices reflect recent fluctuations in international oil markets.
Revised Fuel Prices:
| Product | Previous Price | New Price | Increase |
|---|---|---|---|
| High-Speed Diesel (HSD) | Rs258.34 | Rs260.95 | +Rs2.61 |
| Petrol | Rs286.98 | Rs290.45 | +Rs3.47 |
The government attributed the price hike to surging global crude oil costs, exacerbated by U.S. sanctions on oil exports to China and India. These sanctions have pushed crude oil prices to over $81 per barrel, the highest since August 2024, amid concerns about the impact of U.S. shipping restrictions on Russian oil supplies.
This marks the second fuel price adjustment this month. On New Year’s Eve, petrol prices were increased by Re0.56 per litre for the first fortnight of 2025.
Impact on Economy
The fuel price hike is expected to add to inflationary pressures, affecting transportation and goods prices across the country. The government has urged consumers to brace for potential knock-on effects as global energy dynamics remain volatile.
Stay tuned for updates on how this will affect daily lives and the broader economy.
