ISLAMABAD: The Federal Government has raised the petrol price in the country by Rs9.99 per litre for the next fortnight, effective from July 16, due to rising oil rates in the international market.
The Government also increased the price of high-speed diesel (HSD) from Rs277.45 per litre to Rs283.63, an increase of Rs6.18.
The Finance Ministry issued a notification for the latest fuel prices, calculated by the Oil & Gas Regulatory Authority (OGRA) for the next fortnight.
“The Oil & Gas Regulatory Authority (OGRA) has determined the consumer prices based on variations in the international market,” the statement read.
The government had previously raised the petroleum development levy (PDL) by Rs10 per litre—from Rs60 to Rs70—in the federal budget 2024-25, further burdening the inflation-hit masses.
However, the Finance Ministry stated that no changes have been made to the applicable duties or levies under the new prices, which will remain at the existing level, meaning the PDL remains Rs60 per litre on petroleum products.
This marks the second time the government hasn’t increased the levy on petroleum products since the passing of the federal budget on June 28.
Petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers, significantly impacting the budgets of the middle and lower-middle classes.
However, a significant portion of the transport sector relies on high-speed diesel. Its price is seen as inflationary since it is predominantly used in heavy transport vehicles, trains, and agricultural machinery such as trucks, buses, tractors, tube wells, and threshers, contributing to the increased prices of vegetables and other food items.
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