Petrol price in Pakistan likely to increase by Rs7.67/litre

ISLAMABAD: The federal government is expected to raise petroleum prices for the upcoming fortnight starting July 16, a move likely to exacerbate inflation.

Petrol prices may increase by Rs 7.67 per liter, high-speed diesel (HSD) by Rs 3.72 per liter, and kerosene oil by Rs 2.39 per liter.

The proposed hike would elevate petrol prices from Rs 265.61 to Rs 273.28 per liter. High-speed diesel prices would rise from Rs 277.45 to Rs 281.17 per liter, while kerosene would see an increase of Rs 2.39 per liter.

The Ministry of Finance is expected to announce the price adjustments after consulting with Prime Minister Shehbaz Sharif. This increase is anticipated to further burden consumers already struggling with rising living costs. Additionally, the government is expected to raise the petroleum levy by Rs 5 per liter.

Earlier, on July 1, the federal government increased petrol prices by Rs 7.45 per liter. A notification from the Finance Division set the new petrol price at Rs 265.61 per liter, up from the previous Rs 258.16 per liter. Similarly, high-speed diesel prices were set at Rs 277.45 per liter, an increase of Rs 9.56 from the previous rate of Rs 267.89 per liter.