Not a news many of us wanted to hear! The government has increased the fuel prices in Pakistan again. Now, petrol costs Rs. 9.99 more, and diesel? Well, that’s up by about Rs. 6.18. For the fiscal year 2024-25, the upper limit of Petroleum Levy (PL) had been increased to Rs.70 per liter. However, it’s not the reason why the prices have been jacked up because the government has decided to keep the levy as it is for this time again. So, an increase in the global petroleum prices is the contributor to this price hike. Let’s see the latest petrol price in Pakistan and why it has gone up.
Petrol Price in Pakistan Today 2024
Diesel Price in Pakistan Today 2024
Here are the latest petroleum prices effective from July 16, 2024.
Petrol Price in Pakistan Today
| 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 |
If you are interested in knowing what constitutes the per liter price of petroleum products in Pakistan, you’ll find the following information useful.
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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
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Petrol Price in Pakistan: Analysis
Well, the global petroleum prices have been increased (as cited by the Finance Division Circular). Thus, the government has passed down the burden to the local consumers. Furthermore, if the ongoing crisis in the Middle East worsens, there’s a possibility of more escalation in global petroleum prices at any time that may result in a price hike in Pakistan. Also, we may see another hike when the government will increase the petroleum levy from Rs.60 (current) to Rs.70.
If you have got any thoughts on this, feel free to share them in the comments below.
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بیس روپے بڑھاو پانچ روپے کام کرو
We were so many expectations from this government but they failed
Really now we are disappointed
If they don’t do something for nation then next time people never will support this government
The Pakistani public does not pay any kind of TAX willingly. They fail to understand that governments need revenue the run the country. So the Pakistani government collects revenue the only way it can. From utilities and fuel.
Example; TV licence payment is included automatically in the electricity bill along with some other taxes.
The Pakistani public does not pay any kind of TAX willingly. They fail to understand that governments need revenue the run the country. So the Pakistani government collects revenue the only way it can. From utilities and fuel.
Example; TV licence payment is included automatically in the electricity bill along with some other taxes.