Latest petrol price in Pakistan from July 16

Updated prices of all petroleum products are effective from midnight today on July 16
An undated image of a person fueling up a car. — Pixbay
An undated image of a person fueling up a car. — Pixbay

ISLAMABAD: The federal government on Monday increased the price of petrol by Rs9.99 per litre to Rs275.60 per litre.

Similarly, the price of high-speed diesel (HSD) has also been jacked up by Rs6.18 per litre to Rs283.63, according to the official notification released by the Finance Division. 

The updated prices of all petroleum products are effective from midnight today (July 16).

In the previous fortnightly review, the government had raised the petrol price per litre by Rs7.45, taking the price to Rs265.61 in Pakistan.

The prices of petroleum products are revised every 15 days in Pakistan adjusting them to the trend of global oil prices and the rupee’s exchange rate to the dollar. The Pakistani rupee has held steady recently.

Products
Existing prices 
w.e.f
01.07.2024
New prices 
w.e.f.
16.07.2024
Increase/Decrease 
(+/-_
MS (Petrol)
265.61
275.60
+9.99
High Speed Diesel (HSD)
277.45
283.63
+6.18

The changes in fuel prices come for the second time since the announcement of the federal budget for fiscal year 2024-25 last month on June 12.

The Finance Division stated that there will be no change in the applicable taxes and duties, which will remain at the existing level, as had been notified by the government in the finance bill.

The government had increased the petroleum development levy (PDL) by Rs10 per litre — from Rs60 to Rs70 — in the budget, further burdening the inflation-hit masses.

However, Finance Minister Muhammad Aurangzeb had clarified earlier today that the increased levy on petroleum products was not being imposed immediately, meaning that the PDL remains the same in the latest fuel price review.