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Fuel Prices Climb for Third Straight Day
The federal government has increased the prices of petrol and high-speed diesel (HSD) for the third consecutive day, according to a notification. Petrol has been increased by Rs3.40 per litre, while diesel has risen by Rs6.72 per litre.
Following the hike, petrol now costs Rs367.75 per litre, while diesel is priced at Rs392.67 per litre.
Weekly Cumulative Increase
The back-to-back hikes add up significantly:
| Date | Petrol Hike | Diesel Hike | Petrol Price | Diesel Price |
|---|---|---|---|---|
| Sep 8 | +Rs12.90 | +Rs3.72 | Rs358.77 | Rs381.77 |
| Sep 9 | +Rs5.58 | +Rs4.18 | Rs364.35 | Rs385.95 |
| Sep 10 | +Rs3.40 | +Rs6.72 | Rs367.75 | Rs392.67 |
Petrol has climbed by approximately Rs22 per litre in just three days, while diesel has increased by nearly Rs15 per litre. The government continues to charge Rs114 per litre in taxes on petrol and Rs100 per litre in taxes and duties on diesel.
Why Prices Are Rising
The hikes are driven by surging global oil prices amid the ongoing US-Iran conflict, with Brent crude approaching $100 per barrel. The US has struck multiple Iranian oil tankers, while Iran has targeted a US military base in Jordan and ships near the Strait of Hormuz.
The oil price spike has pushed the government’s petroleum levy beyond the initial estimates, with the levy on petrol crossing Rs114 per litre despite the budget target of Rs115 per litre. The cumulative impact of these hikes is raising concerns about inflation and increasing pressure on the transport and agriculture sectors, which rely heavily on diesel.
