(Web Desk)– The federal government is poised to increase the prices of petroleum products starting July 1, with petrol prices expected to rise by Rs7.54 per litre and high-speed diesel (HSD) by Rs9.84 per litre, The News reported on Friday.

In addition to these increases, an impending petroleum levy of Rs5 per litre, set to be implemented from July 1, could see motor spirit prices surge by Rs12.58 per litre and diesel by Rs14.84 per litre, according to energy ministry officials.

The recent federal budget for FY25 has approved an increase in the petroleum levy (PL) from the current Rs60 to Rs70 per litre. However, the government plans to introduce this increase in a staggered manner to cushion the impact on consumers.

Despite these impending hikes, the government had previously provided some relief by reducing petrol prices by Rs35 per litre over the last four fortnightly reviews.

Petroleum product prices in Pakistan are revised every 15 days to reflect global oil price trends and the exchange rate of the rupee against the dollar. Notably, the Pakistani rupee has remained relatively stable in recent weeks.

The new prices will take effect for the first fortnight of July, reflecting the government’s ongoing adjustments in response to international oil markets and economic conditions.