Petrol prices in Pakistan have surged by Rs7.45 per liter, reaching Rs265.61, effective from July 1.
This increase is attributed to the rising international market rates, as confirmed by the Finance Division following calculations by the Oil and Gas Regulatory Authority (Ogra).
Simultaneously, the price of high-speed diesel (HSD) has been raised by Rs9.56, now standing at Rs277.45 per liter. The adjustment in fuel rates reflects recent upward trends observed in global markets, as outlined in the official notification.
These revisions mark the first change in fuel prices since the federal budget announcement for fiscal year 2024-25 earlier this month on June 12. The Finance Division clarified that no alterations will be made to the current levels of applicable taxes and duties, consistent with the budgetary provisions for FY25.
Moreover, despite earlier plans to increase the petroleum development levy (PDL) by Rs10 per liter, the Finance Minister clarified today that this adjustment would not be implemented immediately. As a result, the PDL remains unchanged in the latest fuel price update.
In recent reviews, the government had provided a cumulative reduction of Rs35 per liter in petrol prices over the past four fortnightly periods, offering relief to consumers impacted by inflation.