Government announces new petroleum prices

The Government announced the price of petrol would remain unchanged, while the price of high-speed diesel was raised by Rs5 per litre.

According to the notification, the price of high-speed diesel has increased by Rs 5, the new price of diesel Rs 251.29,which was previously Rs 246.29.

It is noteworthy that from June 1 to October 1, the price of petrol has been reduced by a total of 21.23 rupees per liter and the price of diesel by 18.67 rupees per liter.

According to the Reuters, escalating tensions in the Middle East are impacting oil prices, with concerns about potential supply disruptions causing an increase in crude oil prices in the global market.

Despite stringent conditions from the IMF, the government announced a significant reduction in petroleum prices on September 15.

The deteriorating situation in the Middle East could further affect crude oil prices. Additionally, cuts in interest rates in the United States have also impacted crude oil prices.