MS petrol and High-Speed Diesel (HSD) prices are expected to rise sharply on the last day of the current fiscal year.
Petrol Price in Pakistan
The federal government is planning to increase the price of petrol by Rs. 7 per liter and diesel by Rs. 10.5 per liter on June 30, 2024. 4o
The government has proposed an increase in the petroleum development levy (PDL) on petrol and high-speed diesel to Rs. 80 per liter in Finance Bill 2024.
The increase in PDL will not be immediately implemented from 1st July 2024 but in phases, however, further relief based on market trends could be ruled next fiscal year as a result of this.
Due to recent trends and the effect of new taxes, petrol prices are expected to rise to Rs. 265.16 per liter, and diesel prices could increase to Rs. 277.89 from the current Rs. 267.89 per liter.
It bears mentioning that the Pakistani Rupee has remained stable at 278/$ during the current fortnight.
