Expected petrol price in Pakistan from July 18
ISLAMABAD – Just as people were hoping for some relief, there is another shock in fuel prices. With global oil prices rising amid Middle East tensions, Pakistan is expected to announce a hike in petrol and diesel prices from July 18.
If the proposed adjustment is approved, the current price of petrol will increase from Rs 310.71 per liter to around Rs 320.71 per litre, while high-speed diesel, currently priced at Rs 323.30 per litre, may go up to around Rs 363.30 per litre, which is more than Rs 350.
Expected rate
The expected increase is likely to increase transportation costs, increase freight charges and put further pressure on inflation, affecting both businesses and households across the country.
The government has also revised the export duty on petroleum products, with the new rates effective from July 16. Diesel export duty: Increased from Rs 8.5 to Rs 15.5 per litre. Aviation Turbine Fuel (ATF): Petrol export duty increased from Rs 7.5 to Rs 14.5 per litre: Reduced from Rs 4 to Rs 2.5 per liter for the convenience of exporters.
Every two weeks, Pakistan reviews international crude oil prices, refinery margins, taxes and petroleum levies to determine domestic fuel prices. The objective of this mechanism is to ensure a stable supply of fuel while preventing excessive export profits at the expense of local consumers.
Due to the global oil crisis, the price of petrol and diesel in Pakistan is likely to increase by Rs 40 per litre
The post Expected price of petrol in Pakistan from July 18 appeared first on Daily Pakistan English News.
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