ISLAMABAD – Pakistan continues to grapple with relentless inflationary pressures. Following recent hikes in electricity and gas rates, the cost of petroleum products has once again surged, driven by currency devaluation and the upward trajectory of global oil prices.
Over the past few weeks, the Pakistani rupee has weathered consecutive blows, plummeting to a low of Rs304 before experiencing a slight recovery. Simultaneously, international Brent crude oil prices have surged, exceeding $92 per barrel.
Adding to these challenges, the interim government is poised to augment profit margins for petroleum dealers and marketing companies. Under these revised arrangements, the price of petrol is expected to climb by as much as Rs 321.35 per liter.