Pakistan government announces massive increase petroleum product prices

Pakistan government announces massive increase petroleum product prices

By: Communicators - Business Team (July 16, 2024)

Federal government of Pakistan has made a massive increase in the price of petroleum products up to Rs 9.99 per liter for fortnight starting from July 16, 2024. The statement of Finance Division says that the petrol price has been raised by Rs 9.99 per liter, and high speed diesel (HSD) price by Rs 6.18 per liter owning to raise price of oil globally.

As per Finance Division, the Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market.

Following the announcement of new ex-depot price of petroleum products, the petrol price has gone up from Rs 265.61 per liter to 275.60 and HSD price has risen from Rs 277.45 to Rs 283.63 per liter.

Finance Division also stated that there will be no change in the applicable petroleum levy (PL) and general sale tax (GST) under the new prices which will remain at the existing level, meaning that the PL remains the same in the latest fuel price review.