Petrol Price to See Another Big Decrease From June 16

Petrol prices in Pakistan are expected to decrease further from June 16, following a decline in global oil rates.

The federal government is set to revise petrol prices on June 15, with the new prices taking effect from June 16.

Since April 16, the government has reduced petrol prices by Rs24 per litre and diesel by Rs20 per litre.

Starting June 16, petrol prices are anticipated to drop by Rs9 per litre and High-Speed Diesel (HSD) by Rs4 per litre.

Proposed Increase in Petroleum Levy

The PML-N led federal government has proposed a significant increase in the petroleum levy on petroleum products. Presenting the federal budget for the fiscal year 2024-25, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb announced that the government is proposing a 33 percent increase in the levy on petrol and diesel.