The government has increased petrol and high-speed diesel prices by Rs2.84 and Rs2.28 per litre, respectively, taking petrol to Rs349 and diesel to Rs374.31 per litre, with the revised rates applicable for one day on September 4.
The Oil and Gas Regulatory Authority determined the revised petroleum prices, while the Petroleum Division issued the notification announcing the fresh increase. The new prices will be applicable for one day only, on Friday, September 4.
Under the latest revision, the price of petrol has been raised by Rs2.84 per litre, taking its price to Rs349.00 per litre. The price of high-speed diesel has also been increased by Rs2.28 per litre, reaching Rs374.31 per litre.
The fresh increase comes as consumers are already struggling with high living expenses and rising transportation costs. The latest fuel shock is likely to put additional pressure on household budgets as well as businesses that depend heavily on petroleum products for transportation and daily operations.
The petrol price increase will directly affect millions of motorists, while the increase in high-speed diesel could have a wider economic impact because diesel is extensively used by commercial transporters, freight vehicles, agricultural machinery and other sectors of the economy.
An increase in diesel prices can raise transportation and logistics costs, potentially feeding into the prices of food, agricultural produce and other essential commodities transported across the country. The impact of the latest revision could therefore extend well beyond petrol stations, placing another burden on consumers.
Petrol prices also have a direct bearing on the monthly expenses of households using private vehicles for commuting, while higher fuel costs can increase the operating expenses of businesses and service providers.
The latest revision has taken petrol close to the Rs350-per-litre mark, while high-speed diesel has climbed above Rs374 per litre, underscoring the continued pressure of elevated fuel prices on consumers and the broader economy.
According to the Petroleum Division notification, the revised prices will be applicable on September 4, Friday, for one day.
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