ISLAMABAD: While inflation continues to make life harder on people, plans are being made to unleash a new “petrol bomb” on the public, with a big price increase in fuel from July 1.
Petroleum Division sources say that petroleum product prices could go up by as much as Rs15 per litre for the next fortnight.
Diesel will increase by Rs 15 per litre, and petrol by Rs 11 per litre. OGRA (Oil and Gas Regulatory Authority) will forward the report of fuel price hike for the first half of July to the Ministry of Petroleum today, and then announce the new prices later tonight.
The decision will be taken by the Finance Minister in consultation with the Prime Minister. It must be mentioned that the price increase is expected as a result of an increase in global crude oil prices and devaluation of the rupee.
Earlier, the federal government had unveiled a petroleum levy of Rs77 per litre and a carbon levy of Rs5 per litre on furnace oil. Apart from this, Rs 2.5 per litre will be levied on petrol and diesel with effect from July 1.
Additionally, the Oil and Gas Regulatory Authority (OGRA) also issued an official notification for a notable hike in domestic and other consumer categories’ gas prices, with the new rates effective from July 1, 2025.
