The government has announced that the Petrol Price Increased and high speed diesel will increase from July 1. The finance division says that the price of petrol will increase by Rs 1 per litre. 7.45 per litre, Rs 265.61 per litre. Similarly, the price of high-speed diesel will now increase by Rs 9.56 to Rs 277 per litre.
The Oil and Gas Regulatory Authority (OGRA) has determined that these price adjustments are a result of fluctuations in global market prices. Since the government’s budget for the financial year 2024-25 was launched in June, prices have remained unchanged.
The administration added that there will be no change in the existing taxes and tariffs on these fuels.
The cost of importing petrol and diesel in Pakistan is affected by constant changes in the global oil market, which is reflected in the increase in the prices of these fuels. The aim of the new pricing is to remain competitive with rising global market prices. As a result of this amendment, consumers will pay more for petrol and diesel from July 1.
Many aspects of daily life can be significantly affected by these changes. Higher fuel prices often result in increased transportation costs, thereby affecting the costs of goods and services. For those whose cars run on petrol or diesel, fuel costs will increase, which could put pressure on household finances. Petrol prices have increased only in the foreign market, while the government has not made any changes in petrol taxes or levies.
