The prices of petrol and diesel are expected to rise starting tomorrow, January 16, 2025, with petrol likely increasing by Rs. 3.53 per liter and diesel by Rs. 3.66 per liter. This price hike is being attributed to the rising crude oil prices in the international market caused by U.S. sanctions on oil exports to China and India.
Petrol Prices Expected to Increase
From Thursday, January 16, 2025, the price of Mogas (petrol) is expected to go up by Rs. 3.53 per liter. This increase will remain in effect for the next 15 days, according to industry sources.
Diesel Prices to Rise Alongside Petrol
Diesel prices are also likely to see a hike of Rs. 3.66 per liter. The consistent rise in diesel prices could impact various sectors, especially transportation and agriculture.
Crude Oil Prices Hit $81 Per Barrel
The surge in crude oil prices has surpassed $81 per barrel, marking the highest level since August 2024. This increase is fueled by U.S. shipping restrictions that have raised concerns about the supply of Russian oil in global markets.
Kerosene and LDO Prices May Also Increase
Industry insiders suggest that kerosene prices might rise by Rs. 4.98 per liter, while light diesel oil (LDO) could see an increase of Rs. 6.20 per liter. However, the final decision on these hikes will depend on the Ministry of Finance’s policymakers.
The increase in petroleum product prices will likely burden the average consumer, affecting transportation costs and household budgets. People are advised to plan ahead for the expected changes.
