ISLAMABAD:
The federal government has once again raised petrol and diesel prices, following a continued upward trend in global crude oil prices.
According to a notification issued by the Finance Division late Tuesday night, petrol price has been raised by Rs5.36 per litre, while diesel has been increased by Rs11.37 per litre.
The price of petrol has increased from Rs266.79 to Rs272.15 per litre, while high-speed diesel (HSD) now costs Rs284.35 per litre, up from the previous Rs272.98.
This revision will take effect immediately from July 16 for next 15 days, impacting millions of motorists and transport operators across the country.
The government stated that the rise in fuel prices is a result of fluctuating international market trends, which have driven up global oil prices.
Fuel prices in Pakistan are reviewed fortnightly, with adjustments based on changes in international oil prices and the local currency exchange rate.
Read More: Govt sticks to the script, hikes fuel prices again
On July 1, the federal government had increased petrol and diesel prices significantly for the first fortnight of the month, attributing the hike to global market volatility amid the 12-day Iran-Israel conflict.
Petrol rose by Rs8.36 to Rs266.79 per litre, and high-speed diesel by Rs10.39 to Rs272.98, based on the Oil and Gas Regulatory Authority’s recommendation. Pakistan, which imports around 85% of its petroleum needs, was directly impacted by the Middle East crisis.
