Pakistan is bracing for a significant increase in petrol and diesel prices starting October 16, as global market trends drive up the cost of petroleum products.
According to sources, petrol prices are expected to rise by Rs5.50 per litre, while high-speed diesel may see a hike of Rs13 per litre.
This comes as international oil prices have surged, with petrol now averaging $79 per barrel and HSD climbing to $87.5 per barrel. Additionally, oil companies and petrol dealers are set to receive an increase in profit margins.