The government has significantly increased fuel prices, with petrol set at Rs458.4 per litre and high-speed diesel at Rs520.35 per litre. Kerosene prices have also been raised to Rs457.80 per litre, with the revised rates taking effect from Friday.
The sharp hike follows rising global oil prices triggered by ongoing conflict in the Middle East, which has disrupted energy supply chains and pushed international markets to record highs.
Officials stated that earlier efforts were made to delay price increases and manage the impact through austerity measures. However, continued pressure on the economy and supply constraints led to the latest decision.
To ease the burden on the public, the government has announced targeted relief measures. These include a limited subsidy on fuel for two-wheelers, financial support for small farmers, and assistance for transport sectors to help keep fares stable.
Authorities said the focus has shifted from broad subsidies to targeted support for lower-income groups, while emphasizing the need for stability amid ongoing global uncertainty.
