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Pakistan Govt Jacks Up Petroleum Prices

Pakistan hiked the petrol price to Rs316.15 per litre just hours after introducing a new daily fuel pricing method. This pricing shift took place shortly after the new system was introduced.

•Amid soaring global oil costs, petrol increased by Rs5.44 per litre and HSD by Rs31.05.

•A new daily pricing structure based on foreign market movements goes into effect.

The federal government jacked up high-speed diesel (HSD) prices by Rs31.05 per litre and petrol by Rs5.44 per litre on Friday, shortly after revealing a new daily petroleum pricing mechanism.

This adjustment was attributed to a significant rise in global crude oil prices, driven by renewed military escalation between the United States and Iran.

The Petroleum Ministry has announced that high-speed diesel (HSD) will now cost Rs354.35 per litre, with petrol prices increasing to Rs316.15 per litre.

These new rates will take effect by July 17.



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