ISLAMABAD: After five consecutive reductions, petroleum prices are expected to rise again due to surging global prices driven by the ongoing Middle East conflict.
Thank you for reading this post, don't forget to subscribe!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.
