The federal government is anticipated to announce significant increases in petroleum prices for the second fortnight of July 2024 later tonight. Under the leadership of Prime Minister Shehbaz Sharif, the government is expected to implement new prices starting from July 16.
According to reports, the proposed adjustments include raising the price of petrol by Rs7.67 per litre, high-speed diesel by Rs3.72 per litre, and kerosene oil by Rs2.73 per litre. A summary to increase the petroleum levy has been prepared and awaits approval from the prime minister before implementation.
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In the previous review for the first fortnight of July, the government had increased the price of petrol by Rs7.45 per litre, setting it at Rs265.61 per litre. Similarly, the price of high-speed diesel (HSD) was raised by Rs9.56 to Rs277.45 per litre.
