The Federal government released an important announcement regarding fuel costs on Sunday. The cost of Gasoline and high-speed diesel will increase starting from July 1, 2024.
The updated rate for Petrol would be Rs 265.61 a liter, a rise of Rs 7.45. HSD would cost Rs9.56 more per liter simultaneously, for a total higher cost of Rs 277.45.
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The government recently evaluated the pricing and reduced the cost of Petrol by Rs. 10.2 per liter and diesel by Rs. 2.33 per liter. The price rise occurred after that review.
The government‘s past projections correspond with the most recent increase in fuel costs. Based on existing taxes and oil company profit margins, they anticipated that the price of Petrol might increase by Rs7.54 per liter and High-Speed Diesel by Rs9.84 per liter.
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The temporary relief from the earlier price reductions will expire with this latest cost adjustment.
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