Petrol & Diesel Prices Increase in Pakistan (July 2024)

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The federal government of Pakistan announced an increase in petrol and diesel prices on Sunday. According to a notification from the finance ministry, MS petrol rose by Rs. 7.45 per liter to Rs. 265.61, while high-speed diesel (HSD) saw an increase of Rs. 9.56 per liter, now priced at Rs. 277.45.

This adjustment follows a previous decrease on June 14, when petrol prices were reduced by Rs. 10.20 per liter and diesel by Rs. 2.33 per liter. Currently, both petrol and diesel are subject to a petroleum levy of Rs. 60 per liter, the most allowed by law. This will rise to Rs. 70 per liter in the next fiscal year following an approved Rs. 10 per liter increase in the Finance Bill 2024.

The impact of increased petrol and diesel prices in Pakistan includes high transportation costs and inflationary pressures on consumer goods and services.

It’s noted that the Pakistani Rupee remains stable at 278 per US dollar for this fortnight. These updates reflect the new fuel prices in Pakistan.

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