Islamabad: According to The News report on Friday, the federal government is expected to raise petrol prices by Rs7.54 per litre and high-speed diesel (HSD) by Rs9.84 per litre starting from July 1 for the next two weeks.
Additionally, if a petroleum levy of Rs5 per litre is implemented from July 1, officials from the energy ministry anticipate that the price of motor spirit could increase to Rs12.58 per litre and diesel to Rs14.84 per litre.
As per the federal budget for FY25, the government has also approved an increase in the petroleum levy (PL) from the current Rs60 to Rs70 per litre. However, the implementation of this increase will be phased in gradually.
Previously, the government had reduced petrol prices by Rs35 per litre over the past four fortnightly reviews to provide relief.
Petroleum product prices in Pakistan are adjusted every 15 days in response to global oil price trends and fluctuations in the rupee’s exchange rate against the dollar. The Pakistani rupee has remained stable in recent times.
