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  Fuel prices are set to rise significantly starting tomorrow, 1st July 2024. Industry insiders suggest that the increase could be as much as Rs 9.84 per litre during the first fifteen days of the month. Sources reveal that petrol prices might go up by about Rs 7.54 per litre. High-speed diesel (HSD) could see an even steeper rise of Rs 9.84 per litre. Meanwhile, the price of light diesel oil (LDO) is expected to climb by Rs 8.73 per litre, and kerosene oil may increase by Rs 7.70 per litre. These price hikes are based on the current tax structure. If these adjustments are approved, consumers could be paying Rs 265.70 per litre for petrol, Rs 277.73 per litre for HSD, Rs 179.51 per litre for kerosene oil, and Rs 164.85 per litre for LDO. These estimates do not factor in any changes to the exchange rate. Additionally, if the government decides to raise the petroleum levy (PL) by Rs 5 per litre, the price of petrol could jump by Rs 12.54 per litre, and diesel could increase by Rs 14....

  Petrol prices in Pakistan are set to increase by Rs7 per litre and high-speed diesel (HSD) by Rs8 per litre starting July 1, due to rising international market rates. This price hike comes after four consecutive price cuts, and there might be further increases if the Petroleum Development Levy (PDL) is raised to Rs80 per litre. Since May, petrol prices had dropped by Rs35 per litre, providing some relief to consumers. However, the recent rise in global oil prices has led to this new adjustment. Finance Minister Muhammad Aurangzeb confirmed that there could be gradual increases in the PDL based on ongoing market trends. The increase in fuel prices is expected to have a significant impact on the daily expenses of citizens and the overall economic stability of the country. Higher fuel costs can affect transportation costs, leading to increased prices for goods and services. Many people are concerned about how these changes will affect their household budgets and overall cost of livi...