ISLAMABAD: Fuel prices are estimated to go up by upto Rs 9.84 per litre for the first fifteen days of next month of July 2024, said industry sources on Thursday.
According to sources, the burden of inflation on the general public is expected to be increased with the anticipated hike in oil prices up to Rs 9.84 per litre during the first half of July 2024.
Sources said that the price of petrol is likely to witness hike by approximately Rs7.54 per litre, while high speed diesel (HSD) could witness a increase of Rs 9.84 per litre. At the same time, the price of Light Diesel Oil (LDO) may be increased by Rs 8.73 per litre and kerosene oil may witness increase of Rs 7.70 per litre.
Sources said these estimates are based on the current tax structure and, if approved, would mean that consumers could be paying Rs 265.70 per litre for petrol, Rs 277.73per litre for HSD, Rs 179.51 per litre for kerosene oil, and Rs 164.85 per litre for LDO.
These proposed changes in petrol, diesel, and kerosene oil prices are calculated based on current government taxes, and also calculated with zero $ exchange adjustment, they added.
The sources also said that if the government increases the petroleum levy (PL) by Rs 5/litre then petrol price will go up by Rs 12.54/litre and diesel (HSD) Rs 14.84/litre with the start of next month of July 2024 across the country.
