Following an imminent announcement by the caretaker government on August 15, petroleum products are poised for a price surge starting August 16.
There’s an anticipated rise of Rs15 per litre for petrol and a heftier increase of Rs20 per litre for diesel. This forecasted price surge correlates with the recent hike in global market commodity prices.
It is noted that global crude oil prices have ascended from $86 to $91 per barrel, a jump of $5, influenced by the uptrend in global petroleum product prices. Additionally, an extra premium of $2 per barrel is imposed on crude oil.
Simultaneously, global diesel and petrol prices have witnessed a $5 increment, transitioning from $97 to $102 per barrel. Given these international trends and the prevailing rate, Pakistan’s petrol prices may swell by Rs15 per litre and diesel by Rs20 per litre.
It’s worth mentioning that during their last review, the previous government proclaimed a significant Rs19 per litre augmentation in both petrol and diesel prices. This move was reportedly aligned with the stipulations the International Monetary Fund (IMF) set.
| Product | Current prices |
| Petrol | Rs272.95 |
| Diesel | Rs273.40 |
