Petrol Price in Pakistan Govt Hikes Petrol by Rs 7.45, Diesel by Rs 9.56
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After the increase in oil prices in the global market, the government Sunday increased the price of petrol by Rs7.45 per litre from Rs258.16 to Rs265.61 for the next fortnight ending July 15, reported 24NewsHD TV channel.
The Finance Division officially notified the latest prices, which it said had been worked out by the Oil and Gas Regulatory Authority (Ogra), based on the price variations in the international market.
As per the notification, the price of high-speed diesel (HSD) has also been increased by Rs 9.56 to Rs 277.45 per litre.
The new fuel prices will come into effect from July 1.
In the global market, the price of US crude oil rose by 3 percent in two weeks, reaching $80.25 per barrel, while London Brent oil increased by 3.17 percent to $84.50 per barrel.
Previously, Pakistan slashed petrol and HSD prices due to a slump in the international market.
Since May 1, petrol prices have decreased by approximately Rs35 per litre, dropping from around Rs294 on April 30 to about Rs259.
Similarly, HSD prices have fallen by roughly Rs22 per litre, decreasing from over Rs290 in mid-April to Rs268.
However, the Finance Bill 2024 has raised the PDL limit to Rs80 per litre.
Finance Minister Muhammad Aurangzeb, however, announced on June 13 that PDL would be gradually increased depending on the pricing trend.