Pakistan is bracing for another rise in petrol and diesel prices, set to take effect from January 16, as global oil prices surge.
Local media reports suggest the price hike is driven by a rise in crude oil costs, which have reached a nearly three-week high due to concerns over supply disruptions and increasing demand for energy.
Read more: Petrol Price Increased by 56 Paisa, HSD by Rs2.96 Per Litre
In addition to the oil price adjustments, there have been no significant shifts in the exchange rate. As a result, petrol and diesel prices could increase by Rs3 per litre for the upcoming fortnight.
The Finance Division will announce the revised prices after receiving approval from Prime Minister Shehbaz Sharif and the Finance Minister.
Recently, Brent crude futures rose by 0.35%, reaching $77.32 per barrel, marking the third consecutive week of gains after a sharp drop to near three-year lows.
In December 2024, the federal government had already raised petrol and diesel prices, with petrol increasing by Rs0.56 to Rs252.66 per litre, and high-speed diesel rising by Rs2.96 to Rs258.34 per litre.
