The federal government plans to reduce petrol prices for the first two weeks of July 2023 to provide help to people.
According to media estimates, petrol prices are expected to fall by up to Rs6.50 per litre beginning next month, but high-speed diesel prices may rise by Rs13.84 per litre.
Consumers will bear the brunt of increasing food costs since fuel prices directly affect the transport and agriculture industries, and any surge would further stress inflation-weary citizens who are already paying record prices.
Meanwhile, the government has not issued a statement since the Finance Minister and his staff are waiting for the Prime Minister’s emphasis on the revised gasoline pricing. According to sources, the expected changes in fuel prices are based on existing rates of petroleum levy and general sales tax (GST).
If the new revisions are approved by the government, petrol prices would fall to Rs255 per litre, but diesel prices will rise to Rs266.84 per litre.
Furthermore, kerosene and light diesel oil (LDO) costs are projected to rise marginally.
Earlier this month, the price of gasoline remained steady despite global currency rates.
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