Pakistan is expected to witness another increase in fuel prices during the latest fortnightly review, with petrol likely to become costlier by around Rs10 per litre and high-speed diesel expected to rise by as much as Rs40 per litre. The anticipated hike comes as international crude oil prices continue to surge due to escalating tensions between Iran and the United States.
According to reports, the revised petrol and diesel prices are expected to take effect from July 18, although the federal government is considering reducing the petroleum levy to lessen the financial impact on consumers.
Current Fuel Prices in Pakistan
| Product | Price (Rs/Litre) |
|---|---|
| Petrol | 310.71 |
| High-Speed Diesel | 323.30 |
If approved, the petrol price could rise to nearly Rs320 per litre, while high-speed diesel, widely used in public transport and commercial vehicles, may exceed Rs350 per litre. The final notification will be issued by the Finance Division after reviewing recommendations.
Amid concerns over the expected price increase, the government has directed authorities to launch a nationwide crackdown on the hoarding of petroleum products. The National Committee on Monitoring and Coordination has taken notice of reports suggesting that some market participants are stockpiling fuel in anticipation of higher prices.
The committee has instructed the Oil and Gas Regulatory Authority (OGRA) to take immediate action against hoarding and market manipulation to ensure uninterrupted fuel supplies across the country.
Meanwhile, the government has also revised export duties on petroleum products. Effective from July 16, the export duty on diesel has increased from Rs8.5 to Rs15.5 per litre, while Aviation Turbine Fuel (ATF) duty has risen from Rs7.5 to Rs14.5 per litre. In contrast, the export duty on petrol has been reduced from Rs4 to Rs2.5 per litre to support exporters.
The government reviews global crude oil prices, refining margins, and related taxes every two weeks to determine domestic petrol and diesel prices while maintaining fuel availability in the local market.
Also Read: Govt Slashes Petrol Levy After Hitting Collection Target
