On Friday night, the interim government implemented a significant adjustment in fuel prices. The cost of petrol rose by Rs26.02 per litre, reaching a new rate of Rs331.38 per litre, while high-speed diesel (HSD) saw an increase of Rs17.34 per litre, settling at Rs329.18 per litre.
The Ministry of Finance made this announcement via a post on X (formerly known as Twitter) after midnight.
This decision was driven by the continuous upward trajectory of petroleum prices in the global market. It’s important to note that there were no alterations made to the rates of kerosene or light diesel oil.
This latest price surge closely follows a substantial hike on September 1, when the interim government elevated fuel prices by up to Rs18 per litre. This increase was preceded by similar adjustments made by the interim government on August 15.
The rationale behind these price adjustments lies in adherence to existing tax structures and import parity prices. These changes were primarily necessitated by currency fluctuations and a slight uptick in international oil prices.