Petrol prices are expected to increase from July 1

After Budget 2024-25, petrol prices are expected to increase in Pakistan from July 1. The federal government is all set to hike petrol prices in Pakistan on the last day of June and the new prices will be implemented from July 1, the day the new finance bill will also come into effect.

The government will revise petroleum prices for the first time on June 31 after presenting the budget for the next financial year 2024-25 on June 12. In the finance bill, the government has proposed to increase the maximum petroleum levy by Rs 20 to Rs 80 per litre.

There will be a levy of Rs 20 to Rs 25 per liter on petrol
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According to the proposed Finance Bill 2024, the maximum rate of petroleum levy on both petrol and high speed diesel will now be Rs 80 per litre. The government has also set a revenue target of Rs 12.97 trillion for the Federal Board of Revenue (FBR) for the next financial year 2024-25.

Petrol Expected price in July 2024

If an increase in petroleum levy is proposed in the budget, there is a possibility of an increase in the prices of petrol and diesel in Pakistan. The government will fix the new prices on June 30, 2024, which will be effective from July 1.

Petrol price in Pakistan today

Earlier this month, the government had reduced the prices of petrol and high speed diesel (HSD) for consumers by Rs 10.20 and Rs 2.33 respectively. After the revision, the petrol price in Pakistan today is Rs 258.16 and high speed diesel is Rs 267.89 per litre.

Petroleum product prices in Pakistan are changed every 15 days. Energy Minister issues notification of new prices of petroleum products on 1st and 15th of every month.