In a fresh blow to inflation-weary citizens, petrol prices in Pakistan are likely to go up by Rs. 11 per liter starting tomorrow (July 1), sources within the Petroleum Division revealed on Sunday.
The expected price hike comes as part of the government’s fortnightly fuel price review, which factors in global oil market trends and the exchange rate. If approved, this will mark one of the steepest increases in recent months, pushing fuel prices to new highs and sparking concerns about a further rise in transport and commodity costs.
Industry experts cite the recent surge in international crude oil prices and the weakening of the Pakistani rupee as the primary reasons behind the expected hike.
The final decision will be announced by the Ministry of Finance later tonight after consultation with the Prime Minister’s Office.
If implemented, this increase is expected to have a domino effect on inflation, potentially raising prices across various sectors, including food, transportation, and manufacturing.
