Govt hikes petrol price by Rs7.45, diesel by Rs9.56

ISLAMABAD: The government on Sunday increased the price of petrol by Rs7.45 per litre and high-speed diesel (HSD) by Rs9.56 per litre for the next fortnight starting July 1, 2024.

Following the latest price review, the petrol price has been raised to Rs265.61 per litre from Rs258.16. The HSD price has been increased to Rs277.45 per litre from Rs267.89 over the past fortnight.

The finance ministry’s notification stated that the price adjustments were made by the Oil and Gas Regulatory Authority (OGRA) based on fluctuations in international market prices.

Earlier on Sunday, Finance Minister Muhammad Aurangzeb said that there would be no increase in the petroleum development levy.

Aurangzeb made the statement during a media briefing after President Asif Ali Zardari signed the Finance Bill 2024, which paved the way for the implementation of the budget for the fiscal year 2024-25.