Fuel prices in Pakistan are expected to increase by up to Rs5 per liter starting July 1, according to sources on Sunday.
A new carbon levy of Rs2.50 per liter is set to be applied to petrol, diesel, and furnace oil from tomorrow. Additionally, the rising exchange rate of the dollar against the Pakistani rupee will also impact fuel prices.
Read more: Petrol price hiked by Re1, LPG gets Rs4.62/kg cut
So far, the U.S. dollar has gained 81 paisas against the rupee, contributing to the expected price hike.
The Oil and Gas Regulatory Authority (OGRA) is currently drafting a proposal that will be submitted to the government today.
The final decision regarding the revised fuel prices will be made by the prime minister.
