Hike in petrol price by Rs7.54, diesel Rs9.84 per litre likely from July 1

ISLAMABAD: The government is likely to increase the petrol prices by Rs7.54 per litre and high-speed diesel (HSD) by Rs9.84 per litre from July 1, 2024 for the next fortnight.

And if the petroleum levy of Rs5 per litre is added from July 1, then the price of motor spirit is expected to be hiked to Rs12.58 per litre and diesel Rs14.84 per litre, energy ministry officials told The News.

The government had announced in the federal budget for FY25 to increase the petroleum levy (PL) by Rs20 to Rs80 from the existing Rs60 per litre. However, the government would stagger the imposition of petroleum levy. The government earlier provided relief of Rs35 per litre by decreasing the petrol price in the last four fortnights.