The federal government is expected to announce revised petrol and diesel prices on Friday night, with the new rates taking effect from July 11 under Pakistan’s weekly fuel price review system.
The announcement comes as global oil prices have increased due to rising tensions in the Middle East.
On Thursday, Brent crude oil rose to $78.90 per barrel, while US West Texas Intermediate (WTI) crude reached $74.35 per barrel after renewed US military action against Iran raised concerns about global oil supplies and shipping through the Strait of Hormuz.
At present, petrol (Super/Euro 5) is priced at Rs297.53 per litre, High-Speed Diesel (HSD) costs Rs309.50 per litre, and High-Octane (Euro 5) is available at Rs340.00 per litre. These prices have been in effect since July 4, when the government slightly reduced fuel rates.
Despite the recent increase in global oil prices, market experts expect petrol and diesel prices in Pakistan to remain unchanged in the upcoming weekly review, as international price movements have not been large enough to justify an immediate change.
