ISLAMABAD – Petrol is likely to become Rs13 per litre more expensive, and expected price is said to cross Rs310 per litre from July 11.
High-speed diesel (HSD) could see an increase of Rs14 per litre, pushing its expected retail price to Rs323.50 per litre. The revised rates are expected to take effect at 12:00 a.m., subject to an official government notification.
If approved, the increase will deliver another blow to households already struggling with high living costs. Higher fuel prices typically trigger a ripple effect across the economy, increasing transportation expenses and adding pressure on the prices of food, consumer goods, and other essential services.
The expected revision comes as international oil prices continue to climb. Brent crude has risen from around $72 to nearly $76 per barrel over the past week, while West Texas Intermediate (WTI) has increased from approximately $69 to $72 per barrel. Analysts attribute the upward trend to heightened geopolitical tensions, particularly involving the United States and Iran, along with concerns over potential disruptions to oil supplies from the Middle East.
Oil and Gas Regulatory Authority (OGRA) has finalized its pricing calculations and reportedly proposed maintaining existing fuel prices. However, the final decision rests with the federal government, which is reviewing multiple options before announcing the new rates.
Officials are also considering adjustments to the petroleum levy and other fiscal measures to cushion the impact on consumers. While rising international prices support an increase in domestic fuel rates, the government could still modify taxes or levies before issuing the final notification.
Last Friday, Pakistanis got modest relief when petrol and diesel prices were reduced by Rs1.97 per litre. That relief, however, now appears to have been short-lived as global energy markets continue to remain volatile.
Pakistan announces New Petrol Prices Today: Here’s What to Expect
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