The federal government has slightly increased the petrol price by Re1 for the next 15 days. The new price stands at Rs253.63 per litre, effective from June 1, according to a notification from the Finance Division.
The decision comes amid mostly stable global oil prices, with only slight movements in crude oil markets in recent days.
Meanwhile, the price of high-speed diesel (HSD) remains unchanged at Rs254.64 per litre.
This decision follows a recent Rs2 per litre cut in diesel prices two weeks ago. At that time, petrol prices were kept steady at Rs252.63 per litre.
Global Oil Market Stays Calm
Oil prices on the international market have seen mild declines.
On Friday, US crude futures dropped as traders anticipated that Opec+ may agree to increase oil output for July.
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Brent crude ended down by 25 cents, or 0.39%, at $63.90 a barrel.
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West Texas Intermediate (WTI) fell by 15 cents, or 0.25%, to $60.79 a barrel, after briefly falling more than $1 earlier in the day.
These figures show that the global oil market is not facing major price pressures currently.
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Impact on Daily Life
Petrol is widely used in private transportation, motorcycles, rickshaws, and small vehicles.
The Re1 increase may seem minor, but it can still affect the middle- and lower-middle-class population. These groups often rely on petrol for daily commuting.
Even a small hike in fuel prices puts additional pressure on household budgets, especially in urban areas where private transportation is essential.
High-speed diesel powers heavy goods transport, trucks, buses, trains, and agriculture machinery like tractors and threshers.
That’s why its price is considered directly linked to inflation.
An increase in diesel costs usually leads to a rise in vegetable and food prices, as it affects the entire supply chain from farms to markets.
By keeping HSD rates unchanged, the government appears to be aiming to control inflation, especially in essential commodities.
With the next fuel price review expected in 15 days, future changes will depend on international oil trends and domestic economic conditions.
