ISLAMABAD – The federal government is likely to slash petrol prices for the first fortnight of July 2023 as the government planned to pass relief to customers.
Media reports claim that petrol price is likely to get a cut by up to Rs6.50 per litre from the start of next month however the price of high-speed diesel may increase by Rs13.84 per litre.
As people will get relief on petrol, consumers will face the brunt of higher food prices as diesel prices directly impact transport and agriculture sectors, and any spike will further burden inflation-weary people, who are paying record prices.
Meanwhile, the government has not made an announcement as Finance Minister and his team will get the PM’s accent on the revised petrol prices. The proposed changes in fuel prices are based on current rates of petroleum levy and general sales tax (GST), per reports.
If the government will approve the new changes, the petrol price will plunge to Rs255 per litre while the diesel price will increase to Rs266.84 per litre.
Furthermore, prices of kerosene oil and light diesel oil (LDO) are also expected to move slightly upward.
Earlier this month, the price of petrol remained unchanged considering the exchange rates throughout the world.
