The Federal Government has raised petrol prices by Rs 4.40 to Rs 331.52 per litre and High-Speed Diesel (HSD) by Rs 3.62 to Rs 378.66 per litre for July 24. This increase follows a daily price review, with cumulative hikes now at Rs 15.37 for petrol and Rs 24.31 for HSD since the new mechanism. The Petroleum Division cited sharp increases in Arab Gulf Platts, with international petrol at USD 105.35/bbl and HSD at USD 143.97/bbl, against an exchange rate of Rs 278. Such fuel price hikes typically fuel inflation, potentially increasing demand for gold as an inflation hedge and adding pressure on the USD/PKR exchange rate.
بحوالہ / Source: www.brecorder.com