In a concerning development for the inflation-hit population, petroleum prices in the country are expected to rise at the start of the new year. Sources within the Petroleum Division revealed that while petrol prices may remain unchanged, the cost of diesel is likely to increase by over Rs4 per litre. Additionally, kerosene prices could see an increase of Rs1 per litre.
The final decision on the price adjustments will be made public on December 31 after consultations between the finance minister and the prime minister. Sources confirmed that the price changes will be announced following the prime minister’s approval.
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Earlier this month, the government had revised petrol and diesel prices for the upcoming fortnight. Petrol prices remained steady at Rs252.10 per litre, while high-speed diesel saw a reduction of Rs3.05, bringing the new price to Rs255.38 per litre. The price of kerosene was lowered by Rs3.32 per litre, now priced at Rs161.66, and light diesel oil also saw a decrease of Rs2.78 per litre, bringing the new price to Rs148.95.
As the year draws to a close, the anticipated hike in diesel and kerosene prices will add further pressure on the public, already grappling with high living costs.
