Islamabad, Pakistan – Web Desk: Pakistan is expected to announce revised petroleum prices later today, a day earlier than scheduled, amid a surge in global oil markets, official sources said.
The move comes as authorities seek to cushion the impact of rising international petroleum prices on consumers. According to sources, the government is attempting to avoid a steep increase of up to Rs40 per litre by adjusting pricing measures.
Current estimates suggest petrol and diesel prices could rise by Rs3 to Rs4 per litre from May 1. However, officials warned that any increase in the petroleum levy could push prices higher.
The early announcement is aimed at mitigating public burden by preempting further volatility in global oil markets. Analysts say geopolitical tensions, particularly around the Strait of Hormuz, continue to influence price trends.
Sources added that if the situation in the Strait of Hormuz is not resolved promptly, fuel prices could see a more significant increase by May 9.
The development underscores the sensitivity of Pakistan’s energy market to global supply disruptions and regional geopolitical risks.
