Govt raises diesel price by Rs5 per litre, petrol unchanged

The government has announced an increase in the price of high-speed diesel (HSD) by Rs5 per litre, citing fluctuations in the international market. However, the price of petrol will remain steady at Rs247.03 per litre for the next two weeks, effective from midnight tonight.

In a notification issued on Tuesday night, the Finance Division confirmed the price of HSD would rise from Rs246.29 to Rs251.29 per litre.

No changes were mentioned regarding the prices of light diesel oil or kerosene.

This adjustment follows a pattern of periodic reviews of fuel prices in response to global market dynamics.

Earlier reports indicated that after five consecutive reductions, petroleum prices were expected to rise, mainly due to increasing international prices driven by the ongoing crisis in the Middle East.

Over the past two weeks, the price of petrol in international markets has risen by about $2.80 per barrel, while high-speed diesel (HSD) prices have surged by roughly $7 per barrel.

The average global price of petrol has climbed to nearly $79 per barrel, up from around $76 per barrel. Similarly, HSD prices have jumped from approximately $80.50 per barrel to around $87.50 per barrel during this period.

The final price adjustments depended on the exchange rate and prevailing tax policies.