Islamabad: Fuel prices in Pakistan are set for a potential increase starting December 16, as international oil rates continue their upward trajectory. US crude oil has reached $68.05 per barrel, while British Brent crude stands at $71.85 per barrel, reflecting steady gains in global markets.
The Oil and Gas Regulatory Authority (OGRA) has submitted its recommendations to the federal government regarding the adjustment of petrol and diesel prices. A final decision is expected to be announced on December 15, leaving citizens bracing for potential economic repercussions.
In November, the government raised petrol prices by Rs. 3.72 per liter and high-speed diesel (HSD) by Rs. 3.29 per liter. The anticipated hike could further escalate transportation costs, contributing to higher prices for goods and services, deepening concerns about inflation.
Balancing economic challenges and public outcry remains a critical task for the government, as fuel prices play a significant role in shaping household budgets and overall inflation trends. The ongoing volatility in the global oil market is expected to influence local fuel prices directly.
With the announcement just days away, citizens remain anxious about the extent of the increase and its implications on daily life. If approved, the new prices will come into effect on December 16, intensifying financial pressures on households already grappling with a challenging economic landscape.
