The government has increased petrol and high-speed diesel prices, with the new rates taking effect from October 3. Petrol will become Rs2.10 per litre more expensive, while high-speed diesel will rise by Re0.30 per litre.
Following the latest revision, petrol will now sell at Rs392.76 per litre. Meanwhile, the price of high-speed diesel (HSD) has reached Rs399.64 per litre.
The government continues to charge Rs114 per litre in taxes and duties on petrol. It also levies Rs100 per litre in taxes and duties on diesel.
New Petrol and Diesel Prices
According to a notification issued by the Petroleum Division, the revised fuel prices will remain applicable from October 3 to October 5.
The latest increase comes as fuel prices continue to remain under pressure amid the ongoing Middle East conflict. The government has also introduced austerity measures in response to rising fuel costs.
Under the revised rates, motorists will pay Rs392.76 for one litre of petrol. Similarly, consumers will pay Rs399.64 per litre for high-speed diesel.
Although the latest increase is relatively small, fuel prices remain significantly higher than their levels earlier this year.
How Fuel Prices Have Changed
High-speed diesel has fallen considerably from its peak recorded earlier this year. Its price reached Rs520.35 per litre on April 3.
However, the price had started climbing from Rs281 per litre after the US-Iran war began on February 28.
Petrol has also experienced a sharp increase since the start of the conflict. Its price reached a peak of Rs458.41 per litre on April 3.
Before the increase, petrol had started its upward movement from Rs266 per litre during the first week of March.
The latest figures show how sharply fuel prices have moved during the period. Nevertheless, both petrol and diesel remain below their April peaks.
Government Introduces Fuel-Saving Measures
Alongside the latest fuel price increase, the government has reintroduced several austerity measures.
The measures come as authorities respond to higher fuel prices during the ongoing Middle East conflict. As part of the plan, markets must now close by 9pm.
Furthermore, the government has reduced fuel allocations for official vehicles by 50 percent. The reduction will remain in place for three months.
The measures are intended to limit fuel consumption as the government responds to changing fuel prices and continued pressure on energy costs.
With the revised prices taking effect from October 3, motorists and businesses will now face another adjustment in their fuel expenses.
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