The government has announced an increase of Rs 26 per litre in the prices of petrol and high-speed diesel, raising fuel costs across the country.
According to an official notification, the hike comes amid rising global oil prices and pressure on the local currency, which have increased the cost of importing petroleum products. The revised prices took effect immediately.
Officials said the adjustment was necessary to align domestic fuel rates with international market trends and manage fiscal pressure. However, the increase is expected to add to inflation, as higher fuel prices typically lead to rising costs of essential goods and services.
Economists warn that the hike could further burden households and businesses, especially at a time when many are already facing high living costs.
The latest increase is among the largest recent adjustments in fuel prices and may have broader economic effects in the coming weeks.
