The federal government has implemented a significant increase in fuel prices, raising the cost of petrol by Rs13.18 per litre and high-speed diesel by Rs13.80 per litre. These revised rates took effect starting Saturday, July 11.
Following the notification from the Petroleum Division, the new price for petrol is set at Rs310.71 per litre, while diesel will now be sold at Rs323.30 per litre. This adjustment follows a period marked by considerable fluctuations in fuel prices.
Notably, diesel prices surged from approximately Rs281 per litre after the US-Iran conflict erupted on February 28, reaching a peak of Rs520.35 per litre on April 3 before declining somewhat. Similarly, petrol prices rose sharply from Rs266 per litre in early March to a high of Rs458.41 on April 3.
Meanwhile, the government continues to collect various levies and duties on petroleum products. In line with commitments to the International Monetary Fund, the climate support levy was doubled to Rs5 per litre starting July 1, although the petroleum levy was reduced accordingly.
Currently, the petroleum levy stands at around Rs80 per litre for diesel and Rs70 per litre for petrol, in addition to the climate support levy. Diesel also incurs customs duty and inland freight charges, bringing the total government revenue from diesel to about Rs101 per litre. Petrol carries approximately Rs95 per litre in total taxes and duties.
Petrol and diesel remain the primary revenue-generating petroleum products in the country, with monthly sales estimated between 700,000 and 800,000 tonnes. This latest price hike reflects ongoing adjustments amid global and domestic economic pressures.
