Petrol prices set to increase in Pakistan from July 1, 2024

As the new fiscal year 2024-25 begins, Pakistan is preparing for a substantial increase in petrol prices. Reports suggest that starting from July 1, petrol prices will rise by Rs7.54 per litre, and high-speed diesel (HSD) prices will increase by Rs9.84 per litre for the first half of July.

Additionally, if the federal government enforces an extra Rs5 per litre petroleum levy, petrol prices could jump 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

As Pakistan enters the new fiscal year, the federal government has decided to incrementally raise the maximum petroleum levy from Rs60 to Rs80. This phased increase will affect overall fuel prices significantly. The anticipated rise in petrol prices is expected to have a notable impact on consumers, making it essential for the public to stay updated on these developments and adjust their plans accordingly.