ISLAMABAD: Petroleum product prices in Pakistan witnessed a record increase of up to Rs60 within a week, as the government resumed daily price adjustments after a two-day suspension.
According to details, the new week began with global oil markets showing a decline, with international crude oil prices falling by up to five percent. The Oil and Gas Regulatory Authority (OGRA) is expected to review and determine new petroleum prices in line with global market trends.
The development comes after a sharp increase in domestic fuel prices over the past week. Petrol prices were raised by Rs24 per litre, while diesel prices increased by more than Rs60 per litre during the period.
Market observers expect a possible reduction in petroleum prices in Pakistan following the recent decline in international crude oil rates.
The resumption of daily price calculations means future adjustments will continue to be linked more closely with fluctuations in global oil markets and exchange rate movements.
