ISLAMABAD – Pakistanis are set to face another blow as petrol and diesel prices are expected to increase by up to Rs10-12 per litre for the second half of October 2024.
Sources familiar with development cited surge in global oil prices and an increase in OMCs profit as the key reasons for expected changes in petroleum products.
Petrol Price in Pakistan
Under the latest circumstances, petrol prices could jump by Rs4-5 per litre, while high-speed diesel is expected to move upto Rs10-12 per litre.
| Products | Expected Rates |
|---|---|
| Petrol | Rs250-252 |
| Diesel (HSD) | Rs256-258 |
In international market, crude oil jumped in recent weeks but it plunged in recent times amid unrest in Middle East.
Oil prices also impact inflation through several interconnected channels. As oil is a primary energy source for transportation, manufacturing, and heating, rising oil prices increase the costs of goods and services, leading to overall inflation.
Higher transportation costs for businesses often get passed on to consumers, further driving price increases. As oil is a globally traded commodity, fluctuations can affect exchange rates and trade balances, further influencing domestic inflation rates.
