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June 16 will mark the start of another significant decline in Pakistan’s petrol prices.

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Petrol prices are predicted to drop by around Rs9 and HSD by Rs5 per litre in the next fortnightly review on June 15.

In the last two weeks, the price of gasoline and HSD has reportedly decreased by around $3.75 and $2.7 per barrel, respectively, on the global market.
On Friday, oil prices decreased as investors assessed the potential effects of longer-than-expected increases in U.S. interest rates.

At $82.33 a barrel, Brent crude futures saw a 0.5% decrease of 42 cents. WTI U.S. crude futures saw a loss of 51 cents, or 0.7%, to trade at $78.11 per barrel.

Increase in projected fuel and diesel taxes

In the meantime, a major rise in the petroleum levy on petroleum products was planned by the federal government led by the PML-N.

The government has suggested a 33 percent increase in gasoline and diesel prices, according to Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb, who presented the federal budget for the fiscal year 2024–25.

The proposal also called for a fifty percent rise in the tax on light diesel, high-octane gasoline, and ethanol. High-octane, light diesel, and ethanol would all carry a 50 rupee fee per litre upon proposal acceptance.

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The Prime Minister has announced a reduction in petroleum prices: light diesel will cost Rs 12 per litre, kerosene oil will cost Rs 11, and petrol will cost Rs 10.

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The announcement of a significant decrease in petroleum prices by Prime Minister Muhammad Shehbaz Sharif is expected to alleviate the financial strain on customers.

The cost of a litre of gasoline will drop by ten rupees.

Prices for diesel and kerosene oil are expected to decrease by 13.6 and 11 rupees per litre, respectively.

In addition, the cost of a gallon of light diesel will decrease by 13 rupees.

This move is a component of the government’s continuous initiatives to lower living expenses and assist households all throughout the nation.

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PPP Parliamentary Party Meeting: Bilawal Issues Party Policy Directives To Attendees

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Political Organization in Islamabad.

Chairman Bilawal Bhutto Zardari was present, as was Member National Assembly Asifa Bhutto Zardari.

The meeting was attended by every member of the Pakistan People’s Party Senate and National Assembly.

Instructions about party policy were given to the attendees by the PPP Chairman.

Congratulating the attendees of the Democracy Day gathering was Bilawal Bhutto Zardari.

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Constitutional Package: Chief of JUI-F and Government Delegation Talk About Constitutional Amendment

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Maulana Fazlur Rehman, the head of Jamiat Ulema-e-Islam, met with a delegation of the high level government in Islamabad.

Participating in the meeting were Deputy Prime Minister Ishaq Dar, Minister of Law Azam Nazeer Tarar, and Minister of Interior Mohsin Raza Naqvi.

Aslam Ghori, Mir Usman Badini, and JUI Secretary General Maulana Abdul Ghafoor Haidari were present during the meeting.

Consultations regarding the proposed Constitutional Amendment were held by the government delegation.

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