ISLAMABAD – Motorists in Pakistan are likely to face further fluctuations in petrol prices in August as global oil prices surge above $100 per barrel, diminishing hopes of any immediate relief at the pumps.
Oil markets remained under pressure on Friday as crude prices stayed above the $100-a-barrel mark, with traders concerned about possible disruptions to energy supplies through the Red Sea and the risk of further escalation in the U.S.-Israeli conflict involving Iran.
Brent crude futures edged higher in early trading, rising 37 cents, or 0.37%, to $101.06 per barrel. The benchmark had already climbed sharply in the previous session, closing more than 7% higher and above the $100 level for the first time since May after Yemen’s Houthi fighters claimed responsibility for strikes on two Saudi oil tankers in the Red Sea.
The global oil benchmark was on track to record its fourth straight weekly increase, with gains of around 14.6% expected for the week.
Meanwhile, U.S. West Texas Intermediate (WTI) crude futures showed limited movement but remained near their highest level since June 11. The U.S. benchmark was set for a weekly increase of approximately 11.8%.
Pakistan has shifted away from the bi-monthly system to revise petrol prices as these are now changed on daily basis to reflect global market changes.
Current Petrol, Diesel Prices in Pakistan
Current petrol prices in Pakistan stand at Rs331.52 per liter while high-speed diesel rate stands at Rs378.66 per liter.
What’s Expected in August 2026
Over the past one week, the price of diesel has increased by Rs55.81 per litre, while petrol prices have risen by Rs20.81 per litre since July 17.
If international oil prices continue their upward trend, petrol and diesel prices in Pakistan could rise above Rs400 per litre in August 2026, adding further financial pressure on motorists.
