In a significant development, the federal government announced on Sunday an increase in the prices of petrol and high-speed diesel (HSD), effective from July 1, 2024.
The price of petrol has been raised by Rs7.45, bringing the new rate to Rs265.61 per litre. Meanwhile, the price of HSD has surged by Rs9.56 per litre, setting the new price at Rs277.45.
This price adjustment follows the previous review in which the government had reduced the petrol price by Rs10.2 per litre and the diesel price by Rs2.33 per litre.
The latest increase aligns with the government’s earlier projections, which had indicated a potential rise of Rs7.54 per litre for petrol and Rs9.84 per litre for HSD, based on prevailing government taxes and the profit margins for oil marketing companies (OMCs).
