Petrol and Diesel Prices in Pakistan Likely to Increase Amid Global Oil Market Volatility
Islamabad: Petrol and diesel prices in Pakistan are likely to increase in the upcoming fortnight, according to media reports, with the final decision subject to approval by Prime Minister Shehbaz Sharif.
Journalist Gharidah Farooqi reported that petrol prices are expected to rise by Rs13 per litre, while high-speed diesel could become Rs14 per litre more expensive, attributing the expected increase to recent tensions involving the United States and Iran and their impact on international oil prices.
The reported increase has not yet been officially announced and remains subject to government approval.
Meanwhile, global commodity markets showed a generally downward trend on Friday. According to a Bloomberg report, West Texas Intermediate (WTI) crude fell by $0.37 to $71.71 per barrel, while Brent crude declined by 0.46% to $75.84 per barrel.
Gold prices also slipped by $10.04 per ounce, while silver futures fell by $0.28 per ounce. In agricultural commodities, corn prices declined by $0.50 per bushel to $449.50, while wheat prices dropped by $4.50 per bushel to $615.25.
The expected adjustment in domestic fuel prices will be finalized after the federal government’s review of international oil prices and other pricing factors.
