Petrol Prices in Pakistan Likely to Rise Amid Global Oil Price Surge
Islamabad: Following a continuous increase in global crude oil prices, Pakistan faces the possibility of a significant hike in petroleum product rates, with a final decision expected today.
The federal government is set to announce major adjustments in petroleum prices, with petrol potentially increasing by up to PKR 30 per liter. According to sources, the Oil & Gas Regulatory Authority (OGRA) has submitted a summary recommending a price hike due to the persistent rise in international oil markets.
The government is reviewing the summary, and an official announcement of the new rates is expected by this evening. If the proposed PKR 30 increase is approved, it could trigger a fresh wave of inflation across the country.
After consultations between the Ministry of Finance and the Prime Minister’s Office, the final decision on whether to provide relief to consumers or implement the increase will be announced, with the new prices likely to take effect at midnight.
