The government has jacked up the price of petrol and high-speed diesel, ending a two-week period of stability. Petrol now costs Rs[Insert Price] per liter, while diesel has climbed to Rs[Insert Price], effective immediately.
The Oil and Gas Regulatory Authority (OGRA) announced the hike late Wednesday, citing a volatile international market. Officials say the adjustment is necessary to keep the supply chain running, as the cost of importing refined petroleum products has spiked in the last 15 days.
For the average commuter, the increase hits where it hurts. Transport fares and the cost of moving goods—already strained by persistent inflation—are expected to face upward pressure by the weekend.
“We had little room to maneuver,” a petroleum ministry source said, speaking on condition of anonymity. “The global benchmarks are rising, and the exchange rate isn’t helping. We’re simply passing on the market reality.”
Critics argue the timing couldn’t be worse. With household budgets already stretched thin, the latest increase threatens to push essential food prices higher as transport costs ripple through the supply chain.
The government maintains that these price adjustments are a standard, fortnightly exercise based on the average price of oil in the international market. Officials pointed to the recent instability in the Middle East as the primary driver behind the sudden surge in global crude prices.
Despite the hike, the government has kept current tax rates unchanged. Whether this will be enough to quell public frustration remains unlikely, as the cost of living continues to dominate the national conversation.
Motorists filling up their tanks Thursday morning will pay the new rates, marking another setback for an economy struggling to find a stable footing.
