ISLAMABAD: the government is poised to increase petroleum product prices from july 16 with petrol expected to go up by Rs 7 . 67 per liter high speed diesel by rs 3 .72 per liter and kerosene by rs 2.73 per liter .
According to a proposal to rise the levy on petroleum products has been prepared and is awaiting final approval from prime minster shahbaz sharif .
the ministry of finance is expected to announce the new prices tonight following consultations with the permier.
the potential hike in petrol prices was reported earlier on july 13, when it was revealed that the government is considering a substantial increase in petroleum product prices as consumer brace for the impact amid existing inflationary pressures .
Consumers already grappling with inflation are expected to face an additional blow due to the hike in petroleum products prices for the latter half of july 2024 .
It was reported that the adjustments, influenced.by global oil prices currency exchange rates and financial dynamics in the energy sector could elevate petrol to RS 273.28 per litre .HSD to rs 281.25 kerosene oil to rs 184.25 and LDO to Rs 166.65 during the latter half of july 2024.
last week sources also indicated the possibility of further oil price hikes in the event of an additional petroleum levy of RS per liter.,
yesterday .The PML -N-led federal government finally notified a phenomenal increase in power traiff for all consumers including those served by the K .Electric -- a hike that is going to affect .millions of powers of users across the country.
The power division on sunday issued the notification for the increase in the basic electricity traiff raising the basic tariif for domestic consumers by up to Rs 7 .12 per unit However domestic consumers using up to 200 units per month are exempt from this increase for three months.
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