Fuel prices in Pakistan are expected to rise due to a recent increase in global crude oil rates.
Over the past 13 days, Brent crude rose from $65.85 to $67.47 per barrel, an increase of $1.60. Similarly, US crude oil climbed from $61.98 to $63.62 per barrel, up by $1.64.
OGRA (Oil and Gas Regulatory Authority) will send a summary to the government on August 31 to determine new petroleum product rates.
After Prime Minister Shehbaz Sharif’s approval, the Finance Ministry will issue an official notification.
Experts warn that the rise in global oil prices may further increase inflationary pressure on the public in Pakistan.
