Pakistan Petrol-Diesel Price Hike: Fuel became expensive again, petrol increased by Rs 13.18 and diesel by Rs 13.80, now Rs 310.71 and Rs 323.30 per liter.

Business Desk – Pakistan Petrol-Diesel Price Hike: Another shock of inflation has hit the general public in Pakistan. The government has again increased the prices of petrol and high-speed diesel (HSD). From July 11, petrol has become costlier by Pakistani rupees 13.18 per liter and high-speed diesel by Pakistani rupees 13.80 per liter.

After the implementation of new prices, one liter petrol in Pakistan is available for 310.71 Pakistani rupees and high-speed diesel is available for 323.30 Pakistani rupees. The government says that this increase in fuel prices has had to be done due to the conditions of the international market and IMF.

New prices came into effect from July 11

The Government of Pakistan has increased the price of petrol by Pakistani rupees 13.18 per liter and high-speed diesel by Pakistani rupees 13.80 per liter. After this, the price of petrol has increased to Pakistani rupees 310.71 per liter and the price of high-speed diesel has increased to Pakistani rupees 323.30 per liter. The new rates are effective from July 11.

The rise in prices started from February

Despite the recent increase, both petrol and diesel are below their record levels. The rise in fuel prices started from February 28, when crude oil prices started increasing in the international market after the US-Iran war. At that time the price of high-speed diesel was 281 Pakistani rupees per liter. After this, on April 3, it increased to the all-time high level of 520.35 Pakistani rupees per liter.

Petrol also below record level

The price of petrol was around 266 Pakistani rupees per liter in the first week of March. After this there was a continuous increase and on April 3 it reached a record level of 458.41 Pakistani rupees per liter. However, current prices are well below that high.

Tax burden increased due to IMF conditions

A major reason for the increase in fuel prices in Pakistan is the conditions of the International Monetary Fund (IMF). The government has doubled the ‘Climate Support Levy’ to 5 Pakistani rupees per liter from July 1. Instead, there has been a slight reduction in petroleum levy.

At present, petroleum levy of about 80 Pakistani rupees per liter is being collected on high-speed diesel. Along with petroleum levy of 70 Pakistani rupees per liter, climate support levy of 5 Pakistani rupees per liter is also being taken on petrol.

Tax up to Rs 100 on one liter fuel

The Government of Pakistan is charging a total tax of about 101 Pakistani rupees per liter on high-speed diesel. This includes custom duty of 16 Pakistani rupees per liter, petroleum levy, climate support levy and inland freight equalization margin.

The total tax on petrol is around 95 Pakistani rupees per liter. Apart from the custom duty of 20 Pakistani rupees per liter, it also includes petroleum levy and climate support levy. Apart from this, the government is charging petroleum levy of 21 Pakistani rupees per liter on kerosene and 16 Pakistani rupees per liter on light diesel oil.