News Desk

Rising global market prices are expected to cause a hike in petrol prices of Rs7 per litre and HSD prices of Rs8 per litre. The price of HSD and gasoline internationally has increased by $5.5 and $4.4 per barrel during the last two weeks, respectively. Fuel price increases could lead to higher domestic prices, particularly if the government decides to raise the Petroleum Development Levy (PDL) from the current Rs60 per liter. In the past, Pakistan reduced the price of gasoline and HSD because of a downturn in the global market.

Petrol costs have dropped by roughly Rs35 per litre since May 1, from about Rs294 on April 30 to about Rs259.
In a similar vein, HSD prices have dropped from above Rs290 in mid-April to about Rs268 per litre, or about Rs 22. Nonetheless, the PDL limit has been increased to Rs80 per liter by the Finance Bill 2024. On June 13, however, Finance Minister Muhammad Aurangzeb declared that PDL would be raised progressively based on market trends in prices.