Petrol Panic – Rising Prices expected in July

Petrol and high-speed diesel (HSD) prices in Pakistan are poised to increase starting July 1, following four consecutive cuts.

The expected rise is attributed to higher international market rates, with petrol projected to increase by Rs7 per litre and HSD by Rs8 per litre.

Recent reports indicate a significant increase in international prices, with petrol and HSD rising by $4.4 and $5.5 per barrel, respectively, over the past two weeks.

This upward trend in global prices may lead to more substantial domestic price hikes, especially if the government decides to increase the Petroleum Development Levy (PDL) from its current Rs60 per litre.