Petrol price in Pakistan went up by Rs. 7.45, now it’s Rs. 265.6

The government has announced an increase in petrol and high-speed diesel prices effective July 1. According to the Finance Division, petrol prices will rise by Rs7.45 per litre, bringing the new price to Rs265.61 per litre. High-speed diesel prices will increase by Rs9.56 per litre, setting the new price at Rs277 per litre.

These price adjustments are due to fluctuations in international market prices, as determined by the Oil and Gas Regulatory Authority (Ogra). This marks the first price adjustment since the federal budget for the fiscal year 2024-25 was announced earlier in June.

The government has clarified that there will be no changes to the current taxes and duties on these fuels.

The rise in petrol and diesel prices is a response to ongoing changes in the global oil market, which impact the cost of importing these fuels. The new rates are intended to align with the increased international costs. As a result, consumers will face higher prices for petrol and diesel starting July 1.

These changes are likely to significantly impact daily life. Higher fuel prices typically lead to increased transportation costs, which can affect the prices of goods and services. People who rely on petrol and diesel for their vehicles will need to spend more on fuel, potentially straining household budgets.

The government has reiterated that the increase is solely due to the higher cost of fuel in the international market, with no changes to taxes and duties on fuel.

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