On December 31, 2024, the government announced an increase in petrol and diesel prices, just ahead of the New Year.
According to a notification issued by the Finance Ministry, the price of high-speed diesel has risen by Rs2.96 per litre, bringing the new price to Rs258.34 per litre. Meanwhile, petrol prices have seen a smaller increase of 56 paisa per litre, now costing Rs252.56 per litre.
This hike in fuel prices is expected to have a significant impact on the budgets of middle and lower-middle-class families, who primarily use petrol for daily commuting in private vehicles, rickshaws, and two-wheelers.
Additionally, a significant portion of the transport sector, which relies on high-speed diesel, is likely to feel the pinch, potentially leading to increased costs for goods and services.
As consumers brace for the financial implications of these price hikes, many are left wondering: How will this affect daily commuting costs and the overall economy in 2025? Will the government take further steps to mitigate the impact on the most vulnerable populations?
