The world is currently on edge, anticipating a potential energy crisis dueto escalating tensions in the Middle East, which have caused a significantspike in global oil prices.
In Pakistan, consumers are facing the unsettling possibility of both petroland diesel prices surging in the coming weeks. Reports suggest that petrolmay witness an increase of Rs3.55 per litre, while diesel could rise byRs0.82 per litre.
This upward trend in petrol and diesel prices is not limited to Pakistanalone. International oil markets have experienced a substantial increase,with petrol and diesel prices surging by $3.14 and $1.14 per barrel,respectively.
The situation has placed immense pressure on Pakistan’s energy sector,raising concerns about the affordability of fuel for the nation’s citizens.
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Interestingly, amidst this uncertainty, the Pakistani Rupee (PKR) has showna slight recovery, gaining approximately 4 rupees or 1.42% against the USDwhen compared to the previous fortnight’s weighted average rate of PKR282.37 per USD.