Pakistan Adjusts Fuel Prices Amid Global Oil Market Fluctuations

The Pakistani government has made adjustments to fuel prices in response to fluctuations in global oil markets. The price of petrol will now be Rs391.30 per litre, up from Rs389.28, while the cost of High-Speed Diesel (HSD) will decrease by Rs3.59 per litre to Rs408.53. These changes are effective from September 26 to 28.

The increases and decreases come as oil prices continue to move amidst tensions surrounding the US-Iran conflict. Brent futures have risen $2.96, or 2.8 percent, to $103.64 a barrel, while West Texas Intermediate (WTI) crude has fallen $2.86, or 3 percent, to $91.75.

The government has implemented austerity measures in response to higher fuel prices, including reducing fuel allocations for official vehicles by 50 percent for three months and closing markets by 9pm.