If approved, this would mark the first increase in petrol and diesel prices in nearly four years. The potential hike could be around Rs 4–5 per litre. Domestic LPG cylinders may also see an increase of Rs 40–50.
Retail fuel prices have been frozen since 2022. State-owned fuel retailers are facing losses of about Rs 20 per litre on petrol and Rs 100 per litre on diesel. This situation has prompted oil marketing companies to absorb these losses.
The increase is driven by a sharp rise in global crude oil prices due to the ongoing conflict in West Asia. Government sources stated, “The government is closely monitoring the evolving situation in West Asia and its impact on global energy markets.” The Ministry of Petroleum and Natural Gas confirmed that retail pump prices have remained unchanged.
The government is expected to make a decision on the price hike within the next 5–7 days. No final decision has been announced yet regarding the price hike.
