Not Surprising Anymore! Oil Prices Rise Above $90, Fuel Hike Likely in Pakistan
Global oil prices have climbed above $90 per barrel again, raising fresh concerns about fuel prices in Pakistan. Brent crude reached around $91 per barrel on August 18, its highest level in nearly three weeks, as tensions around Iran and the Strait of Hormuz increased. Pakistan has already increased fuel prices. From August 18, petrol…
Global oil prices have climbed above $90 per barrel again, raising fresh concerns about fuel prices in Pakistan. Brent crude reached around $91 per barrel on August 18, its highest level in nearly three weeks, as tensions around Iran and the Strait of Hormuz increased.
Pakistan has already increased fuel prices. From August 18, petrol rose by Rs5.77 per litre to Rs331.20, while high-speed diesel increased by Rs6.47 to Rs390.42.
| Fuel | New Price |
|---|---|
| Petrol | Rs331.20/litre |
| High-Speed Diesel | Rs390.42/litre |
| Brent crude | Around $91/barrel |
Further increases could put more pressure on transport costs and inflation if international oil prices remain high. Pakistan imports a large share of its petroleum needs, making local fuel prices sensitive to global crude prices and exchange rate movements.
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