Government Increases Petrol and Diesel Prices

The federal government has announced new prices for petroleum products, effective January 16, 2025, with significant hikes in both petrol and diesel costs. According to the Ministry of Finance, petrol will now cost Rs. 256.13 per liter, an increase of Rs. 3.47, while the price of high-speed diesel (HSD) has risen by Rs. 2.61 to Rs. 260.95 per liter.

Recent Price Adjustments

This follows a recent increment in the last fortnightly review, where petrol prices were increased by Rs. 0.56 to Rs. 252.66 per liter and high-speed diesel saw a hike of Rs. 2.96 per liter, setting it at Rs. 258.34.

Implications

These adjustments reflect ongoing fluctuations in the global oil market and the government’s response to changing economic conditions. The price hikes are expected to impact transportation costs and the broader economy.