Petrol Price Hiked by Rs8.36 per Litre for Next Fortnight

Employees at a fuel station attend to their customers in Islamabad on February 16, 2022. — AFP/File

Citing fluctuations in international crude oil prices, the Finance Division announced a petrol price hike by Rs8.36 per litre for the next fortnight, effective July 1. On June 16, 2025, petrol rose by Rs4.80 per litre and high-speed diesel by Rs7.95. With the latest increase, petrol will now cost Rs266.79 per litre, up from Rs258.43. The price of high-speed diesel was also raised by Rs10.39, bringing it to Rs272.98 from Rs262.59 per litre, according to a notification.

International oil prices edged down on Monday as investors weighed easing Middle East risks and a possible OPEC+ output increase in August. Both Brent and US crude oil benchmarks posted their biggest weekly declines since March 2023. The government has added a carbon levy of Rs2.50 per litre to the new fuel prices. The levy on petrol has been reduced to Rs75.52 per litre, while the levy on high-speed diesel has been set at Rs74.51 per litre.

The hike in the petroleum products prices comes a day after the Oil and Gas Regulatory Authority (Ogra) notified a 50% increase in fixed gas charges for domestic consumers for the fiscal year 2025-26, effective from July 1. Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting. In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells. The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.

According to the source: Geo.tv.