How much will petrol prices rise from July 1?

Pakistanis, who recently celebrated a reduction in petrol prices, may soon face a setback as petroleum products are expected to become more expensive starting July 1. Sources indicate that due to rising oil prices in the global market, the price of petrol is projected to increase by Rs 7 per liter for the next fortnight. Diesel prices could rise by up to Rs 9.84, while crude oil may see a hike of Rs 7.70. Additionally, the price of light diesel is expected to increase by up to Rs 8.73.

This anticipated increase is attributed to the ongoing surge in global oil prices. The final approval from the Prime Minister is pending before the new prices are officially announced. If a petroleum levy is imposed, the prices could rise even further.

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This potential hike in petroleum prices comes at a time when consumers are already grappling with high inflation and economic challenges. The increase will likely impact transportation costs and the overall cost of living, putting additional pressure on household budgets. The government is yet to confirm the exact adjustments, but the expected rise is causing concern among the populace, who fear the financial strain that may follow.