Govt drops petrol bomb on inflation-hit masses

The federal government on Monday made a massive increase in the petrol prices for the next fortnight by Rs9.99.

The high-speed diesel (HSD) saw an increase of Rs6.18.

“The prices of petroleum products have seen an increasing trend in the international market during the last fortnight,” the finance ministry said in a statement.

After the surge, the per litre petrol will now coast Rs275.60, while HSD will be retailed at Rs283.63.

However, the Finance Division said that there no change has been made in the applicable duties or levies under the new prices which will remain at the existing level, meaning that the PDL remains Rs60 per litre on the petroleum products.

On July 1, the government increased the rates of petrol and HSD by Rs7.45 and Rs9.56 respectively.

Last month, the federal government revised the Rs80 per litre petroleum development levy to Rs70/ltr after days of budget debate sessions in the National Assembly and Senate recommendations.