The price of petrol in Pakistan has increased, reaching a new price of Rs 265.61 per liter.
This change comes after four consecutive price cuts and is attributed to the increase in international petroleum product rates and the recently imposed Petroleum Levy (PL) in the Budget 2024-25.
The price of high-speed diesel (HSD) has also seen an increase, rising to Rs 277.45 per liter.
These new prices went into effect on July 1, 2024. The government’s decision to increase the petroleum levy on petrol and diesel will result in continued price hikes in the coming weeks.
The increase in petrol prices will likely contribute to higher inflation rates in Pakistan, as the cost of daily commodities and transportation will also increase. This decision may burden the middle and lower classes, who are already struggling with high living costs.
