Petrol Price Expected to Increase from July 1

Starting from July 1, 2024, the prices of petrol and high-speed diesel (HSD) in Pakistan expected to witness a significant hike. The cost of petrol anticipated to increase by 7.54 rupees per liter, while HSD is likely to rise by 9.84 rupees per liter.

This price adjustment set to affect consumers across the country and is being closely monitored by both the public and industry stakeholders.

Key Details of the Upcoming Fuel Price Hike

• Effective Date: July 1, 2024
• Petrol Price Increase: 7.54 rupees per liter
• Diesel Price Increase: 9.84 rupees per liter

Potential Impact of Petroleum Levy

According to officials from the Ministry of Energy, the price hike could even more substantial if a new petroleum levy imposed. If the government decides to add a petroleum levy of 5 rupees per liter, the prices could escalate further:

• Petrol Price Increase with Levy: 12.58 rupees per liter
• Diesel Price Increase with Levy: 14.84 rupees per liter

Budget 2025 and Petroleum Levy Changes

In the federal budget for the fiscal year 2025, the government announced an increase in the petroleum levy from the current 60 rupees per liter to 80 rupees per liter. This increase planned to be implemented gradually, with an initial imposition of 20 rupees per liter.

Public Reaction and Economic Impact

The anticipated increase in fuel prices expected to have a wide-reaching impact on various sectors, including transportation and goods distribution, potentially leading to higher costs for essential commodities. Consumers and businesses alike are expressing concerns over the potential strain on their budgets and operations.

As the implementation date approaches, the public and industry experts are keenly awaiting further announcements and confirmations from the government regarding the exact figures and additional levies. This fuel price hike underscores the ongoing adjustments in Pakistan’s economic policies and their direct impact on everyday life.