Pakistan’s Ministry of Finance has announced an increase in petrol prices of Rs17.50 per liter, raising them to Rs290.45. High-speed diesel prices have also surged by Rs20 per liter, now priced at Rs293.40.
However, the rates for light-speed diesel and kerosene oil remain unchanged. The next adjustment in petroleum product prices is scheduled for August 31. Earlier reports indicated a potential increase of Rs 12 per litre for petrol and Rs 20 per liter for diesel.
Previously, on August 1, the government led by Shehbaz Sharif raised petrol prices by Rs 19.95 per litre and diesel prices by Rs 19.90 per litre.
Economic data from the Institute of Statistics reveals a substantial 40% decrease in annual petroleum product imports in June compared to the previous year, reflecting global market volatility. Brent oil prices dropped 1% to $85.74 per barrel, while US crude oil prices fell 1.3% to $82.12 per barrel.