Due to a global rise in crude oil prices, it is anticipated that prices for gasoline and high-speed diesel (HSD) will rise during the upcoming biweekly review.
Petroleum prices are likely to rise after five consecutive declines, primarily due to rising international prices linked to the ongoing Middle East crisis.
Oil prices have increased by approximately $2.80 per barrel over the past two weeks, while HSD prices have increased by approximately $7 per barrel on international markets.
According to sources, the federal government is likely to follow these international market trends and raise diesel prices by Rs13 per liter and Rs5 per liter, respectively.
From around $76 per barrel, the average international price of gasoline has increased to nearly $79 per barrel.
During the same time frame, HSD prices have increased from approximately $80.50 per barrel to approximately $87.50 per barrel.
The current exchange rate and tax rates will have an impact on the final price adjustments. The news costs are expeced to be declared on night before October 15 happening the following day.
