Due to rising global price of oil, the Pakistani government will likely increase petrol prices by about Rs7 per litre during the first half of July 2024. This expected increase comes after four straight price reductions that saved consumers Rs35 per litre.
After these previous decreases, this will be the first petrol price increase. Due to similar international pricing pressures, the government also expects to increase the price of high-speed diesel (HSD) by roughly Rs10.50 per litre in addition to the increase in petrol prices.
The federal government decided to hike the maximum petroleum levy by Rs20, making it Rs80 per unit for both petrol and high-speed diesel oil (HSDO), as part of the budget for the financial year 2024–2025. This
The federal government has decided to increase the maximum petroleum levy by Rs20, making it Rs80 per unit for both motor gasoline and high-speed diesel oil (HSDO), as part of the budget for the fiscal year 2024–2025. This choice is in keeping with the government's plan to modify the petroleum levy to reflect changes in global prices.
There is still one week until the next pricing update, therefore it is crucial to know that the final rates will be decided based on the most recent movements in the global market and the exchange rate.
On June 30, 2024, at midnight, the new pricing will be formally revealed. They will then be in force for the next 15 days.
a few things in standpoint, the government reduced the price of petrol and HSD for the third time in a row during the most current pricing update. The cost for petrol was reduced by Rs10.2 to Rs258.16 per litre, & the price of HSD declined by Rs2.33 to Rs267.89 per litre.
The government's response to the unstable international market conditions and its need to strike a balance between financial responsibilities and petroleum product pricing is highlighted by the expected rise in fuel prices.
The impending increase seeks to bring domestic fuel costs into line with international rates, illustrating the continued difficulties in controlling the financial effects of changes in the price of oil on the world economy.
On June 30, 2024, at midnight, the new pricing will be formally revealed. They will then be in force for the next 15 days.
a few things in standpoint, the government reduced the price of petrol and HSD for the third time in a row during the most current pricing update. The cost for petrol was reduced by Rs10.2 to Rs258.16 per litre, & the price of HSD declined by Rs2.33 to Rs267.89 per litre.
The government's response to the unstable international market conditions and its need to strike a balance between financial responsibilities and petroleum product pricing is highlighted by the expected rise in fuel prices.
The impending increase seeks to bring domestic fuel costs into line with international rates, illustrating the continued difficulties in controlling the financial effects of changes in the price of oil on the world economy.
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