ISLAMABAD: The federal government’s petrol prices are expected to increase in Pakistan from July 1, 2024, after four consecutive price cuts, as per private media report.
As per report, petrol is expected to increase by Rs7 per litre and HSD by Rs8 per litre due to higher international market rates.
Petroleum prices will be reviewed on June 30 for the first time after the budget for the fiscal year 2024-25 was presented on June 12.
International prices for petrol and HSD have risen by $4.4 and $5.5 per barrel, respectively, over the past two weeks.
The increase in petrol prices could result in domestic price hikes, especially if the government raises the Petroleum Development Levy (PDL) from the current Rs60 per litre.
It should be noted that Pakistan previously lowered petrol and HSD prices due to a decline in the international market.
Current Petrol, Diesel Prices in Pakistan:
| Fuel Type | Current Price (Rs per litre) |
|---|---|
| Petrol | 258.16 |
| High-Speed Diesel (HSD) | 267.89 |
Latest Petrol and Diesel Prices in Pakistan from July 1, 2024:
If the budget proposal to increase the petroleum levy is approved, the petrol and diesel prices in Pakistan are likely to increase accordingly.
