ISLAMABAD: The government is likely to increase petrol and diesel prices further this today after crude oil prices rose in the global market.
Experts estimate that due to the increase in oil prices in the global market, a rise of at least Rs. 10 will be announced in the price of petrol in Pakistan.
According to reports, Brent crude oil has reached close to $110 per barrel, while US crude oil is also trading above $100.
Due to global supply shortages and geopolitical tensions, oil prices continue to rise, which has a direct impact on countries like Pakistan that rely on imported fuel.
The government’s review on Friday is likely to increase prices further, which could further increase the prices of transport and essential goods.
Last week, Prime Minister Shehbaz Sharif approved an increase in the price of diesel by Rs 15 per liter and petrol by Rs 14.92 per liter, after which diesel became Rs 414.58, and petrol became Rs 414.78 per liter.
It should be noted that every increase in the prices of petroleum products directly leads to an increase in inflation, the burden of which falls on the common citizen.
