Fuel Prices May Rise Sharply from July 1 in Pakistan
Petrol and Diesel Prices Likely to Go Up from July 1
The prices of fuel in Pakistan may increase from July 1, 2025.
High-speed diesel might go up by Rs14.86 per litre.
Petrol might increase by Rs11.43 per litre.
The Oil and Gas Regulatory Authority (OGRA) will send a report about the new prices today. The Petroleum Division and the Finance Ministry will check it and then send it to Prime Minister Shehbaz Sharif for final approval.
What’s Happening Globally?
In the international market, oil prices went down on Monday. This is because:
Tensions in the Middle East have reduced.
OPEC+ may increase oil supply in August.
Even with this, the world is still unsure about how much oil people will need in the coming months.
Brent crude oil for August dropped slightly to $67.65 per barrel.
The September price also dropped to $66.56 per barrel.
IMF Suggestion and Carbon Levy Issue
The IMF has also suggested raising petrol and diesel prices for those buying with cash.
Last Thursday, a Senate finance committee rejected the government’s plan to add a Rs2.5 carbon levy on petrol in the 2025-26 budget.
Senator Sherry Rehman said this is not a proper carbon tax and cannot be included in a finance bill without passing a law.
Senator Mohsin Aziz reminded that the Supreme Court has already stopped this kind of levy in a past case. He warned that adding it now would go against the court’s order.
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