The petrol price in Pakistan has been hiked by Rs7.45 per litre from Rs258.16 per litre to Rs265.61 per litre for the next fortnight in line with the fluctuation in the global oil rates, according to an official announcement on Sunday.
The changes in fuel prices come for the first time since the announcement of federal budget for fiscal year 2024-25 earlier this month on June 12.
The government had increased the petroleum development levy (PDL) by Rs10 per litre — from Rs60 to Rs70 — in the Budget FY25, further burdening the inflation-hit masses.
However, Finance Minister Muhammad Aurangzeb clarified earlier today that the increased levy on petroleum products was not being imposed immediately, meaning that the PDL remains the same in the latest fuel price review.
Earlier, the government had provided a cumulative relief of Rs35 per litre by decreasing the petrol price in the last four fortnightly reviews.
More to follow…
