Another massive drop expected in petrol price from June 16; Details inside

ISLAMABAD: There is a possibility of further reduction in petrol prices in Pakistan from June 16 due to the fall in global oil prices.

As per the details, the federal government will revise the petrol prices on June 15, the new prices will be effective from June 16.

From April 16, the PML-N government had reduced the price of petrol by Rs 24 per liter and the price of diesel by Rs 20 per litre.

From June 16, the price of petrol is expected to be reduced by Rs 9 and the price of HSD by Rs 4.

Proposal to increase levy on petrol, diesel

The Muslim League (N)-led federal government proposed a significant increase in petroleum levy on petroleum products.

Read More: Budget 2024-25: Expected petrol prices in Pakistan from June 16 after petroleum levy increased

Federal Finance Minister and Revenue Senator Muhammad Aurangzeb, while presenting the federal budget for the financial year 2024-25, said that the government had proposed a 33 percent increase in the prices of petrol and diesel.

Similarly, the proposal calls for a 50% increase in the levy on high-octane, light diesel and ethanol. After approval of the proposal, high octane, light diesel and ethanol will be charged Rs 50 per litre.