Petrol Likely to Become More Expensive in Pakistan from July 16

The federal government, led by Prime Minister Shehbaz Sharif, is expected to increase fuel prices starting July 16, according to industry sources.

Reports suggest that petrol may rise by Rs6.60 per litre, while the cost of high-speed diesel (HSD) could go up by around Rs5.27 per litre. If approved, the new rates will stay in effect for the next 15 days.

The Oil and Gas Regulatory Authority (Ogra) is set to submit its pricing recommendations to the Ministry of Energy (Petroleum Division) on Monday. These recommendations are based on data provided by oil marketing companies earlier this week.

The final decision will be made by the Ministry of Finance, in consultation with Prime Minister Shehbaz Sharif. While Ogra offers a technical estimate based on global crude oil prices and currency exchange rates, the government ultimately decides whether to pass the cost onto the public or absorb it.

A senior official from the energy ministry, who asked not to be named, said:
“Changes in local fuel prices are mainly influenced by international oil markets and the rupee’s value, but the government also considers its financial situation before making any adjustments.”

Source : Web Desk