The national government is preparing to announce changes in petrol prices on December 31, 2024, which may include an increase in diesel and kerosene oil prices while maintaining fuel prices at current levels. According to sources from the Petroleum Division, diesel prices are expected to rise by over Rs4 per litre, and kerosene oil may see a hike of Rs1 per litre. Petrol prices are likely to remain stable, though a potential increase cannot be ruled out entirely.
The Finance Minister is expected to consult with the Prime Minister before finalizing these fuel price adjustments, with an official notification anticipated by the year’s end. Sources suggest that petrol prices could also rise, but confirmation will depend on the official announcement.
These adjustments are part of the government’s regular review of petroleum prices, driven by global market trends and domestic economic factors.
On December 15, 2024, the government announced fortnightly fuel price adjustments. Petrol prices were unchanged at Rs252.10 per litre, while high-speed diesel prices were reduced by Rs3.05 per litre to Rs255.38 per litre.
Kerosene prices dropped by Rs3.32 to Rs161.66 per litre, and light diesel prices decreased by Rs2.78 to Rs148.95 per litre. These measures aim to balance international oil market fluctuations with local economic conditions.
