The federal government announced a substantial increase in petroleum product prices on Monday.
According to a notification issued by the finance ministry, the price of petrol has been raised by Rs. 9.99 per liter to Rs. 275.60, and the price of high-speed diesel has been increased by Rs. 6.18 per liter to Rs. 283.63. These new prices will take effect from July 16.
In a brief statement, the ministry confirmed that there will be no changes to the current duties or levies, which will remain at their existing levels.
During the last fortnightly review of petroleum prices, the government increased the price of petrol by Rs. 7.45 per liter, while high-speed diesel saw an increase of Rs. 9.56 per liter.
The continuous rise in petrol and diesel prices is expected to exacerbate inflation, as transportation costs will likely increase accordingly.
