As the new fiscal year 2024-25 commences, Pakistan is bracing for a significant hike in petrol prices. Reports indicate that starting from July 1, petrol prices are expected to increase by Rs7.54 per litre, while high-speed diesel (HSD) prices will see a rise of Rs9.84 per litre for the first half of July.
Adding to this, if the federal government implements an additional Rs5 per litre petroleum levy, petrol prices could surge by Rs12.54 per litre, and diesel prices by Rs14.84 per litre.
Current Petrol Prices in Pakistan
Earlier this month, the government provided some relief by lowering the prices of petrol and high-speed diesel. The prices were reduced by Rs10.20 and Rs2.33 per litre, respectively. This brought the current petrol price to Rs258.16 per litre and the high-speed diesel price to Rs267.89 per litre.
Expected New Petrol Prices from July 1
Without Additional Petroleum Levy:
- Petrol Price: Rs265.70 per litre
- High-Speed Diesel Price: Rs277.73 per litre
With Additional Petroleum Levy:
- Petrol Price: Rs270.70 per litre
- High-Speed Diesel Price: Rs282.73 per litre
The federal government has already decided to increase the maximum petroleum levy to Rs80 from the previous Rs60. This increase will be implemented in different phases, impacting the overall fuel prices.
As Pakistan steps into the new fiscal year, the expected hike in petrol prices will have a significant impact on consumers. It is crucial for the public to stay informed about these changes and plan accordingly.
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