Global oil prices continued to rise amid growing tensions between the United States and Iran, raising fresh concerns about fuel costs in countries that rely heavily on imported crude oil. The latest movement in international markets could also influence future fuel prices in Pakistan.
Brent crude oil increased to $96.54 per barrel, while West Texas Intermediate (WTI) crude reached $91.71 per barrel. Murban crude also recorded a significant jump, gaining $7 per barrel to reach $106, reflecting heightened uncertainty in the global energy market.
The rise in international oil prices comes at a time when geopolitical tensions are adding pressure to the global energy supply outlook. Any prolonged disruption or further escalation could keep crude prices elevated and increase costs for oil-importing economies.
In Pakistan, consumers are already experiencing changes in fuel prices. The government has continued to revise petrol and diesel rates in response to fluctuations in international oil prices, exchange rates and other factors affecting domestic fuel pricing.
For September 2, the Pakistan petrol price was increased by Rs1.08 per litre. Following the latest adjustment, petrol is now available at Rs343.87 per litre, adding further pressure to household budgets and transportation costs.
The government also increased the price of high-speed diesel by 51 paisas per litre. With the latest revision, the new diesel price stands at Rs370.92 per litre. Diesel prices are particularly important for transport, agriculture and commercial activities across the country.
