ISLAMABAD: Global crude oil prices have surged in the past 13 days, setting the stage for another possible hike in Pakistan’s local fuel rates as the Oil and Gas Regulatory Authority (OGRA) prepares its next review on August 31.
British Brent crude has climbed by $1.60 per barrel over the last 13 days, moving from $65.85 to $67.47. Similarly, American crude oil rose by $1.64 per barrel, now trading at $63.62 compared to $61.98 earlier this month.
This steady upward trend in the international market is likely to impact Pakistan’s petroleum product prices in the coming days.
Current petrol and diesel prices in Pakistan
The Shehbaz Sharif-led government last revised petrol prices on August 16, pushing the cost of super petrol to Rs264.61 per litre and diesel to Rs272.99 per litre.
The decision had come amid rising import costs and currency fluctuations.
OGRA is set to send its next petroleum price determination summary to the government on August 31.
Any adjustment in global oil prices will likely influence the upcoming revision, with consumers bracing for another potential rise.
