Key Takeaways
- Petrol prices will increase by nearly Rs. 5/litre to Rs. 315 per litre.
- Diesel prices will rise by roughly Rs. 30/litre to sell for Rs. 354 per litre.
- New rates will take effect after midnight and are subject to daily changes.
The government has announced an increase in the prices of petrol and high-speed diesel (HSD) effective tonight, following heightened tensions between the US and Iran. Sources informed ProPakistani that petrol will rise by nearly Rs. 5/litre to reach a new rate of Rs. 315 per litre, while HSD will be increased by roughly Rs. 30/litre to sell for Rs. 354 per litre.
This latest hike comes after an alleged artificial shortage of petrol led to the closure of several fuel stations across different cities in Pakistan earlier this week. The uncertainty in global crude prices has exacerbated market panic, particularly following the US's resumption of its war against Iran, which has driven Brent crude oil prices up to $87 per barrel.
Petrol rates were last adjusted on July 10th, when they increased by Rs. 13 to reach Rs. 310 per litre. Similarly, diesel saw a rise of Rs. 14 to Rs. 324 per litre at that time. The new rates will remain in effect until further notice and are expected to be updated daily.
An official notification by the Petroleum Division is expected shortly to confirm these new prices. Consumers can expect fluctuating prices as global oil markets continue to experience volatility due to ongoing geopolitical tensions.
The government's decision to increase fuel prices again highlights the challenges faced in managing energy costs amidst international instability. Pakistanis are advised to monitor updates from official sources for any changes or additional information regarding fuel pricing.
