Happy New Year 2025! On the eve of the New Year, the federal government announced a marginal increase in petrol prices by Rs0.56 per liter for the first half of January 2025.
As detailed in a Finance Division notification, the Oil and Gas Regulatory Authority (Ogra) adjusted these rates in response to recent fluctuations in the global market.
According to the update, the new petrol price is Rs252.66 per litre, up from Rs252.10. Additionally, the price of high-speed diesel (HSD) has risen by Rs2.96, now costing Rs258.34 per litre, up from Rs255.38.
Petrol and Diesel Price from January 01, 2025
Products | Existing Price | New Price | Increase/Decrease |
---|---|---|---|
Petrol | 252.10 | 252.66 | +0.56 |
High-Speed Diesel | 255.38 | 258.34 | +2.96 |
During the preceding fortnight, petrol prices remained stable at Rs252.10 per litre, while the rate for high-speed diesel was reduced by Rs3.05 to Rs255.38 per litre. The government also reduced the prices of kerosene and light diesel oil by Rs3.32 and Rs2.78, setting them at Rs161.66 per litre and Rs148.95 per litre, respectively.
Petrol is primarily used by private vehicles, rickshaws, and two-wheelers, making it crucial for the middle and lower-middle classes who rely on it for daily commuting. Conversely, high-speed diesel, essential for the transport sector, powers heavy transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.
The rise in diesel prices is often seen as inflationary because it affects the cost of transporting goods, including vegetables and other food items, thus affecting overall market prices.