The federal government has decided to increase the prices of petroleum products, whereby the price of petrol would go up by Rs8.36 per litre, whereas the price of high-speed diesel (HSD) by Rs10.39 per litre as notified by the Finance Division late on Monday evening.
The price of petrol has risen to Rs 266.79 a litre as opposed to the previous rate of Rs258.43; HSD on the other hand costs Rs 272.98 a litre as compared to the old rate of Rs 262.59. The new rates took effect effective immediately as of July 1.
This change is in reference to the suggestions by the Oil and Gas Regulatory Authority (OGRA) and the concerned ministries. Government blamed this fuel prices increase on dynamism in the international markets and this has affected global oil prices.
In Pakistan, the fuel prices are being revised twice a month and practiced by regulating the fuel prices in accordance with the international oil prices and the domestic money rate.
The government also increased petroleum products up to Rs7. 95 per litre on June 15.
The government of Pakistan enhanced the price of petrol and high speed nearby (HSD) by rs4.80 and 7.95 per litre respectively as recommended by the oil and gas regulatory authority (OGRA) and other relevant ministries.
On the other hand, OGRA has also notified of a considerable hike in the price of gasoline to both domestic and other consumer groups with new rates being effective starting July 1, 2025.
The action adds additional burden on the pockets of citizens who are already affected by inflation since the tariffs on domestic gas have been adjusted upwards, in some categories at up to 50%.
