Petrol price in Pakistan to rise from September 1

Over past 13 days, British Brent crude edges up by $1.60 per barrel, rising from $65.85 to $67.47
An undated image of petrol pump. — Shutterstock
An undated image of petrol pump. — Shutterstock

In line with the steadily rising petroleum rates in the international market, new petrol price in Pakistan from September 1 are likely to register a notable hike.

The latest adjustment to the prices of petroleum products in the country will take their fortnightly effect starting September 1, as the Oil and Gas Regulatory Authority (OGRA) is due to announce its latest review on August 31.

With the updated petrol prices in Pakistan on the horizon, global trends are pointing to the possibility of an upward stride.

Over the past 13 days, British Brent crude has edged up by $1.60 per barrel, rising from $65.85 to $67.47, according to Samaa.tv.

Across the Atlantic, American crude has seen a similar jump of $1.64, now trading at $63.62 compared to \$61.98 earlier this month. This consistent upward drift in global markets is expected to spill over into Pakistan’s domestic fuel pricing.

Currently, motorists are already paying higher rates following the government’s last revision on 16 August. 

At that time, the government increased the price of super petrol to Rs264.61 per litre and diesel to Rs272.99 per litre, citing rising import bills and pressure from currency shifts.

Consumers should be wary of a possible continued rally in crude oil market, which might translate into further strain at the petrol pumps.