Islamabad, June 28, 2024 – The government is expected to raise petrol prices by Rs7.54 per litre and high-speed diesel (HSD) by Rs9.84 per litre starting July 1, 2024, for the next fortnight.
Potential Price Hike with Petroleum Levy
If the planned petroleum levy of Rs5 per litre is implemented from July 1, the price increase could reach Rs12.58 per litre for motor spirit and Rs14.84 per litre for diesel, according to officials from the energy ministry.
Federal Budget and Petroleum Levy
The federal budget for FY25 includes an increase in the petroleum levy (PL) from Rs60 to Rs80 per litre, staggered over time. Despite this planned increase, the government has previously provided relief by reducing petrol prices by Rs35 per litre over the past four fortnights.
