The federal government announced a significant hike in fuel prices on Sunday, effective from midnight June 16, following recommendations from the Oil and Gas Regulatory Authority (OGRA) and related ministries.
According to a Finance Division notification, petrol prices have risen by Rs4.80 per litre, taking the new rate to Rs258.43 per litre, up from Rs253.63. Meanwhile, high-speed diesel (HSD) saw a steeper increase of Rs7.95 per litre, reaching Rs262.59 per litre compared to the previous Rs254.64.
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Officials attributed the adjustment to fluctuations in global oil prices and exchange rate variations, in line with Pakistan’s bi-weekly fuel pricing mechanism.
In addition to the price hike, the government is prioritizing petroleum levy collection to fund electricity subsidies. Plans are already underway to raise the petroleum levy to Rs90 per litre on oil products, aiming to ease power costs for consumers.
