Pakistan’s petrol prices remain under pressure as uncertainty around the US-Iran conflict continues to affect global oil markets. The latest development came after reports that US President Donald Trump rejected Iran’s proposal to reopen the Strait of Hormuz and pause the fighting. Iran’s plan called for the key oil shipping route to reopen within seven days.
However, there is currently no confirmed indication that petrol in Pakistan will cross Rs500 per litre. The government has set the petrol price at Rs391.30 per litre for September 26 to 28, after increasing it by Rs2.02. High Speed Diesel was reduced by Rs3.59 to Rs408.53 per litre.
International oil prices also eased on Friday, with Brent crude falling 2.1% to $104.32 per barrel. Still, continued disruption around the Strait of Hormuz could keep prices under pressure because the waterway is a major route for global oil shipments.
Pakistan has already introduced fuel relief measures for motorcycles, rickshaws and small cars as higher global oil prices increase pressure on consumers.
