Fuel prices rise due to Israeli attacks on Iran, impacting consumers
The government increased petrol and diesel prices following Israeli attacks on Iran, with petrol at Rs266.79/litre and diesel at Rs272.98/litre. This hike affects transportation costs and household budgets, especially for the middle- and lower-middle class.
The government raised petrol and diesel prices by Rs8.36 and Rs10.39 per litre, respectively, until July 15 due to higher international prices following Israeli attacks on Iran. The Oil and Gas Regulatory Authority adjusted prices in response to global market fluctuations. High-speed diesel (HSD) price increased to Rs272.98 per litre, affecting transport sector costs. Petrol price rose to Rs266.79 per litre, impacting private transport and small vehicles.
The government imposes about Rs100 per litre tax on petrol and HSD, with an additional Rs2.5 per litre climate support levy effective from July 1. Customs duty, petroleum development levy, and distribution margins also contribute to the prices. Liquid petroleum gas (LPG) price decreased by Rs7.51 per kg for July, with the 11.8kg cylinder price set at Rs2,750.60.
According to the source: Dawn.
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