As per industry officials, Pakistan is bracing for another increase in petrol prices, expected to rise by nearly 10 Pakistani Rupees (PKR) per litre due to a surge in international crude oil prices. This news comes amidst fluctuations in global energy markets and their impact on domestic fuel costs.
On the other hand, the price of high-speed diesel (HSD) is anticipated to decrease by PKR 1.30 per litre to PKR 284.26, offering a slight relief to consumers. Similarly, kerosene prices are expected to see a minor dip of PKR 0.17 per litre, while the price of light diesel oil (LDO) is projected to rise by PKR 0.45 per litre.
An official attributed the petrol price hike to the recent escalation in global oil prices, which surged to $95 per barrel, up from $90 per barrel earlier in March. Conversely, the decline in HSD prices globally is set to translate into a noticeable reduction for consumers in Pakistan.
Industry experts noted that despite global fluctuations, local fuel prices have remained relatively stable due to a consistent exchange rate over the past month. The Pakistani rupee has seen a slight increase against the US dollar, hovering around 277.94 per dollar.
The federal government is expected to announce the final fuel prices on Sunday, effective from April 1, reflecting the bi-weekly review based on global rates and currency exchange values. In the previous review, petrol prices remained unchanged, while HSD prices saw a decrease of PKR 1.77 per litre.
Sources By Agencies
