Govt Hikes Petrol Prices By 8.36 & Diesel By 10.39 per Liters: 1st July Update
As the new month starts the government has announced important news regarding the petrol and diesel prices as per the script. There is a major increase in Petrol and Diesel prices by the Government of Pakistan due to new fiscal budget.
According to a notification sent by the Finance Division late Monday night, the federal government has announced a price increase for petroleum products, increasing the price of high-speed diesel (HSD) by Rs10.39 per litre and petrol by Rs8.36 per litre.
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Petrol And Diesel Price Increases
With effect from Tuesday, July 1, the federal government has raised the price of gasoline by Rs8.36 per liter for the upcoming two weeks. Details show that the new price of petrol has been set at Rs266.79 per liter.
In the meantime, the government said that the price of high-speed diesel has increased by Rs10.39 per litre, to Rs277.98.
Adjustment Follows Recommendations From OGRA
This change is in response to suggestions made by the appropriate ministries and the Oil and Gas Regulatory Authority (OGRA). According to the government, shifting global market trends have affected oil prices globally, which is why fuel costs have increased.
Every two weeks, Pakistani fuel prices are reviewed and adjusted in response to shifts in global oil prices as well as the local currency exchange rate.
Significant Increase In The Prices Of Gas
High-speed diesel (HSD) prices increased by Rs7.95 per litre, while petrol prices increased by Rs4.80 per litre in response to recommendations from the Oil and Gas Regulatory Authority (OGRA) and related ministries.
Conversely, OGRA has formally announced a substantial hike in gas prices for residential and other consumer groups, with the new rates taking effect on July 1, 2025.
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Gas Prices Increased Up to 50%: New Rates Announced for Households
Since residential gas tariffs have been raised by up to 50% in some categories, the decision puts additional financial strain on citizens already affected by inflation.
The official announcement states that there has been a significant revision to domestic gas pricing. The new tariffs would be between Rs200 to Rs4,200 per MMBTU for home subscribers. For domestic users, OGRA has implemented fixed monthly fees in addition to unit-based fees.
Conclusion
With the start of July, the government has increased petrol, diesel, and gas prices significantly, adding to the financial burden on inflation-hit citizens. The hike, based on OGRA’s recommendations and global market trends, means higher fuel and energy costs for households across the country.