ISLAMABAD: After five consecutive reductions, petroleum prices are expected to rise again due to surging global prices driven by the ongoing Middle East conflict.
According to official sources, petrol and high-speed diesel (HSD) prices may increase by approximately Rs5.50 and Rs13 per litre, respectively, starting from October 16. This hike follows a notable rise in international rates, with petrol prices climbing by $2.8 per barrel and HSD by $7 per barrel over the last two weeks.
The price of petrol in the international market has risen from $76 to almost $79 per barrel, while HSD has jumped from $80.5 to $87.5 per barrel. Despite stable import premiums and a relatively steady exchange rate, the domestic prices are set to increase. Currently, petrol is priced at Rs247.03 per litre, while HSD stands at Rs246.69 per litre at ex-depot rates.
