The federal government has increased petrol prices for the next fortnight. According to the Ministry of Finance, the petrol price has gone up by Rs 14.80 per litre. As a result, the new petrol rate now stands at Rs 266.89 per litre.
In addition, officials have also raised the price of high-speed diesel by Rs 10.39 per litre. Consequently, diesel now costs Rs 272.98 per litre. These revised prices will apply for the next 15 days.
However, the government delayed the official announcement beyond the usual midnight deadline. This unexpected delay confused the public waiting for the update. Normally, the ministry releases such notifications on time.
The Ministry of Finance, in consultation with the Prime Minister, finalises the fuel prices. This time, however, the ministry delayed the issuance without providing any explanation. Meanwhile, media outlets had already reported the likely increase.
Eventually, the ministry released the official notification to confirm the price hike. As expected, petrol and diesel users will now face higher fuel costs. Therefore, this rise directly affects daily transport and business operations.
According to the notification, “The petrol price has been increased by Rs 14.80 per litre, bringing the new petrol price to Rs 266.89 per litre.” It also added, “The price of high-speed diesel has been raised by Rs 10.39 per litre, with the new rate set at Rs272.98 per litre.”
This hike will likely impact transporters, industries, and regular motorists. Furthermore, price increases like this often lead to higher inflation. As a result, many anticipate further price jumps in essential goods and services.
Now, the public must adjust their household budgets to manage the higher fuel costs. Typically, fuel prices change every 15 days under the current pricing formula. Moreover, these adjustments follow global market trends.
Notably, the ministry did not mention any changes in kerosene or light diesel oil prices. The update focused solely on petrol and high-speed diesel. Thus, consumers will need to wait for future notifications regarding other fuels.
Reports were updated and shared the revised rates. After hours of delay and speculation, the new prices are now in effect. These will remain valid until the next revision in the pricing cycle.
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