ISLAMABAD: Amid a surge in global crude oil prices, the government is expected to announce another hike in petrol and diesel prices this week, a move likely to further fuel national inflation.
With Brent crude nearing $110 per barrel and US crude trading above $100, the rising costs—driven by global supply shortages and geopolitical tensions—are putting significant pressure on Pakistan’s import-dependent economy.
Experts anticipate that the government’s upcoming review this Friday will result in a price increase of at least Rs 10 per litre for petrol. This follows a substantial hike last week authorised by Prime Minister Shehbaz Sharif, which raised the price of diesel by Rs 15 and petrol by Rs 14.92.
Consequently, both fuels reached record highs, with diesel currently at Rs 414.58 and petrol at Rs 414.78 per litre. Because energy costs are a primary driver for the price of transport and essential goods, this latest potential increase is expected to disproportionately impact the common citizen by further raising the overall cost of living.
