The federal government has announced a marginal increase of Re1 per litre in petrol prices for the upcoming fortnight, raising the rate to Rs253.63 per litre, effective June 1. In contrast, the price of high-speed diesel (HSD) will remain steady at Rs254.64 per litre.
According to a notification from the Finance Division, this decision was made following recommendations from the Oil and Gas Regulatory Authority (OGRA) and relevant ministries.
Just two weeks ago, the petrol price was maintained at Rs252.63 per litre, while HSD saw a reduction of Rs2 per litre.
International oil markets remained relatively stable amid speculation over potential OPEC+ output decisions. On Friday, U.S. crude futures dipped as traders anticipated that OPEC+ might increase production beyond previous expectations starting in July. Brent crude futures settled 25 cents lower, at $63.90 a barrel, while West Texas Intermediate (WTI) declined by 15 cents to close at $60.79 per barrel, after briefly falling more than a dollar.
Petrol is primarily consumed by private transport, including motorcycles, rickshaws, and smaller vehicles. Even minor price changes can significantly impact middle- and lower-income groups, who rely heavily on petrol for daily commuting.
High-speed diesel, on the other hand, is critical to the commercial transport sector. Its price influences broader inflationary trends, as it is widely used in heavy vehicles, agricultural machinery, and logistics. Fluctuations in HSD prices often lead to increased costs for transporting goods, which can raise the prices of essential items such as vegetables and other food products.
