Petrol and diesel prices increased as global oil rises amid US-Iran tensions?
According to media reports, the increase comes after renewed tensions between the United States and Iran unsettled international energy markets. Rising concerns over crude oil supplies have pushed prices higher and raised fears of further volatility.
According to sources, uncertainty returned to the market after a fragile ceasefire between the US and Iran ended unexpectedly. This development created pressure on global oil prices and affected fuel pricing calculations.
At the time of reporting, Brent crude oil was trading at around $75 per barrel. Market experts believe international trends are playing a major role in the latest fuel price adjustment.
Also read: Fuel prices to fall in July after four months of hikes
Petrol is expected to increase by nearly Rs13 per litre. If approved, the new petrol price will reach around Rs310 per litre.
High-speed diesel is likely to become more expensive by about Rs14 per litre. The revised diesel price is expected to stand at approximately Rs324 per litre.
An official notification from the Petroleum Division is expected to confirm the final rates. Once announced, the new prices will remain effective for the next seven days.
The latest increase follows a reduction announced last week. At that time, petrol prices were cut by Rs1.97 to Rs297.53 per litre, while diesel prices were reduced by the same amount to Rs309.50 per litre.
The sudden shift from a price cut to a significant increase has attracted public attention. Consumers and businesses are now closely watching global developments that could influence future fuel costs.
Higher fuel prices can affect transportation and daily expenses across the country. Any further rise in international oil prices may continue to put pressure on local fuel rates.
The latest increase shows how quickly global events can affect fuel prices in Pakistan. If tensions in the region continue, consumers may face more uncertainty in the coming weeks.
