Global oil prices surge; petrol prices in Pakistan likely to rise, again

A sharp increase in global crude oil prices has raised concerns over a possible hike in petroleum prices in Pakistan in the coming weeks.

According to international market data, crude oil prices witnessed a significant surge, pushing major benchmarks to some of their highest levels in recent months. The price of American crude oil climbed to $100.6 per barrel, while Brent Crude rose to $106.5 per barrel.

Meanwhile, Murban Crude also recorded a substantial increase, reaching $103.6 per barrel in international trading.

Market analysts say global oil prices are continuing to fluctuate due to rising demand, supply concerns, and ongoing geopolitical developments affecting energy markets worldwide.

The increase has sparked fears of another rise in fuel prices in Pakistan, where petroleum products are already being sold at historically high rates. Experts warn that if the upward trend in global oil prices persists, the government may be forced to revise local petrol and diesel prices upward in the next pricing adjustment.

Higher fuel costs could further add to inflationary pressure, increasing transportation and commodity prices across the country.