ISLAMABAD – As people hoped for some relief, another fuel price shock appears to be around the corner. With global oil prices climbing amid Middle East tensions, Pakistan is expected to announce an increase in petrol and diesel prices from July 18.
If the proposed adjustment is approved, the current petrol price of Rs310.71 per litre would climb to approximately Rs320.71 per litre, while high-speed diesel, currently priced at Rs323.30 per litre, could jump to around Rs363.30 per litre, well above Rs350 mark.
Expected Rates
The expected hike is likely to increase transportation costs, raise freight charges, and put further pressure on inflation, affecting both businesses and households across the country.
The government has also revised export duties on petroleum products, with the new rates taking effect from July 16. Diesel export duty: Increased from Rs8.5 to Rs15.5 per litre. Aviation Turbine Fuel (ATF): Increased from Rs7.5 to Rs14.5 per litre Petrol export duty: Reduced from Rs4 to Rs2.5 per litre to facilitate exporters.
Pakistan reviews international crude oil prices, refinery margins, taxes, and petroleum levies every two weeks to determine domestic fuel prices. The mechanism is aimed at ensuring stable fuel supplies while preventing excessive export profits at the expense of local consumers.
Petrol, Diesel Prices in Pakistan likely to rise by up to Rs40 Per Litre amid global Oil Crisis
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