ISLAMABAD: The federal government announ-ced on Sunday a substantial increase in petroleum product prices, effective June 16, 2025, for the upcoming fortnight. This decision comes as the global oil market experiences an unprecedented surge following Israel attack on Iran.
High-Speed Diesel (HSD) saw the sharpest increase, rising by Rs 7.95 per litre, from Rs 254.64 to Rs 262.59 per litre. Petrol prices also climbed, with a hike of Rs 4.80 per litre, moving from Rs 253.63 to Rs 258.43 per litre.
The price adjustments are directly linked to the volatile international oil market, which reacted strongly after Israel and Iran reportedly exchanged missile strikes.
On Friday, oil prices jumped significantly, with Brent crude futures settling 7.02% higher at $74.23 a barrel, an increase of $4.87. Earlier in the day, prices had soared over 13% to an intraday high of $78.50, driven by investor concerns that the conflict could severely disrupt oil exports from the Middle East.
Copyright Business Recorder, 2025
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