Global oil prices have surged once again, pushing US crude above $100 per barrel and raising fresh concerns about fuel costs worldwide.

According to market reports, US crude oil prices have crossed the $100 per barrel mark, while Brent crude has also climbed to around $113 per barrel. The sharp increase reflects ongoing global uncertainty and rising demand, which continue to put pressure on energy markets.

The rising oil prices are expected to impact economies across the world, especially developing countries that rely heavily on imported fuel. Analysts warn that continued increases could lead to higher transportation and production costs, ultimately affecting consumers.

Meanwhile, in Pakistan, Prime Minister Shehbaz Sharif has taken a targeted step by increasing the levy on high-octane fuel. The levy has been raised from Rs 100 to Rs 300 per litre, according to an official statement issued by the Prime Minister’s Office.

Also Read: High-octane fuel price rises by Rs200 per litre in Pakistan

The government clarified that this decision is aimed at luxury vehicle users who consume high-octane fuel, ensuring that the financial burden does not fall on the lower and middle-income segments of society.

Officials emphasized that prices of regular fuel used by the majority of the population will remain unchanged, offering relief to ordinary citizens amid rising global oil prices.

The move reflects the government’s strategy to balance economic pressure while protecting vulnerable groups from inflationary shocks linked to the global energy crisis.