The Finance Division announced late Sunday night that petrol prices have been increased by Rs 7.45 per litre for the first 15 days of July 2024. The new prices, determined by the Oil and Gas Regulatory Authority (OGRA), reflect recent fluctuations in the international market.
Official Notification
According to the notification, the petrol price in the country has risen from Rs 258.16 per litre to Rs 265.61 per litre for the next fortnight. Similarly, the price of high-speed diesel has been increased by Rs 9.56 per litre, reaching Rs 277.45 per litre.
“The prices of petroleum products have seen an increasing trend in the international market during the last fortnight,” the official notification stated.
| Products | Existing Price | New Price | Increase |
|---|---|---|---|
| Petrol | Rs 258.16 | Rs 265.61 | +Rs 7.45 |
| High-Speed Diesel | Rs 267.89 | Rs 277.45 | +Rs 9.56 |
Finance Minister’s Statement
Finance Minister Muhammad Aurangzeb clarified earlier in the day that the increased levy on petroleum products is not being imposed immediately, meaning that the Petroleum Development Levy (PDL) remains unchanged in the latest fuel price review.
The adjustments in petrol and diesel prices reflect the ongoing volatility in global oil markets, impacting domestic fuel prices. The government continues to monitor the situation closely to manage the economic implications of these changes.
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