Summary Petrol and diesel prices in Pakistan may increase in the next fortnightly review as rising global crude oil prices, driven by US-Iran tensions, put pressure on domestic fuel costs.
ISLAMABAD (Dunya News) -Pakistan could see a significant increase in petrol and diesel prices in the upcoming fortnightly fuel price review as higher global crude oil prices continue to impact import costs.
According to government sources, high-speed diesel (HSD) may become costlier by up to Rs25 per litre, while the price of petrol could increase by Rs15 to Rs20 per litre.
The expected increase follows a rise in international crude oil prices amid renewed geopolitical tensions between the United States and Iran, which have heightened concerns over global energy supplies and shipping through the Strait of Hormuz.
Sources said the government is considering reducing the petroleum levy to cushion the impact of higher international oil prices on consumers. However, no final decision has been made.
Officials said four proposals related to petroleum pricing are currently under consideration, with the final decision to be taken after approval by Prime Minister Shehbaz Sharif.
Pakistan revises the prices of petroleum products every two weeks based on changes in international oil prices, the exchange rate and applicable taxes and levies.
Separately, the government has directed authorities to take strict action against the hoarding of petroleum products to ensure adequate fuel supplies and prevent artificial shortages in the market.
The final adjustment to petrol and diesel prices is expected to be announced after the government's review of international market trends and fiscal considerations.
