Petrol Price in Pakistan Increased Now By Rs. 9.99/L
Petrol Price in Pakistan: Not the news that most of us want to hear! The government has increased fuel prices in Pakistan. The downward trend has finally ended. Now petrol costs Rs. 9.99 more, and diesel about Rs. 6.18. For the fiscal year 2024–25, the petroleum levy (PL) cap has been raised to Rs. 70 per litre. However, this is not the reason why the prices have been raised, as the government has decided to keep the fee as it is for this time. Therefore, the increase in world oil prices contributes to this price increase. Let’s take a look at the latest petrol price in Pakistan and why it has increased.
Here are the latest petroleum prices, effective July 16, 2024.
Latest Petrol Price in Pakistan
| Product | Old Price (Rs.) | New Price (Rs.) | Difference (Rs.) |
| Petrol | 265.61 | 275.60 | +9.99 |
| High Speed Diesel (HSD) | 277.45 | 283.63 | +6.18 |
OGRA Notification
If you are wondering what the price per liter of petroleum products is in Pakistan, the following information will be helpful.
Petroleum Levy in Pakistan
This is the current (w.e.f. July 16, 2024) tax regime:
| Product | PL (Rs.) | GST (Rs.) | IFEM (Rs.) | OMC (Rs.) | DC (Rs.) | Ex Refinery (Rs.) |
| Petrol | 60 | 0 | 7.79 | 7.87 | 8.64 | 191.3 |
Glossary of Terms
- PL – Petroleum Levy or Petroleum Development Levy
- GST – General Sales Tax
- IFEM – Inland Freight Equalization Margin
- OMC – Oil Marketing Companies Margins
- DC – Dealers’ Commission
- Ex Refinery – Price per liter as sold by the refinery
Petrol Price in Pakistan: Analysis
Well, global oil prices have increased (as quoted by the Financial Division Circular). The government thus shifted the burden to local consumers. In addition, if the ongoing crisis in the Middle East worsens, there is the possibility of further escalation in global oil prices at any time, which may result in higher prices in Pakistan. Also, we can expect another hike with the government increasing the oil tax from Rs 60 (current) to Rs 70.
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Also check: LPG Price in Pakistan Today