Petrol price in Pakistan may see another increase as global oil markets continue to rise. The Oil and Gas Regulatory Authority (OGRA) will present its next review to the government on August 31.
Over the past 13 days, international crude prices have shown a steady upward trend. British Brent crude has gained $1.60 per barrel, moving from $65.85 to $67.47. Similarly, American crude oil climbed by $1.64 per barrel, now standing at $63.62 compared to $61.98 earlier this month.
This increase in global prices is expected to directly affect Pakistan’s fuel rates. Any adjustment in the upcoming review will depend on international trends and the local economic situation.
The government last revised fuel rates on August 16. At that time, the petrol price was raised to Rs264.61 per litre, while diesel was set at Rs272.99 per litre. The decision was made due to rising import costs and fluctuations in the value of the rupee.
OGRA is now preparing its next petroleum price summary for submission. If global rates remain high, there is a strong chance of another upward revision. Consumers across the country are concerned, as any increase in petrol price also affects transport, food, and other essential goods.
Experts believe the government will face pressure in balancing economic challenges with public relief. While rising international crude costs are beyond local control, measures may be taken to manage the impact on consumers.
The final decision will be announced after the government reviews OGRA’s recommendation on August 31. Until then, many are bracing for a possible hike in the petrol price, which could further add to inflationary pressures.
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