Pakistan's government increased petrol by Rs5.44 to Rs316.15/litre and diesel by Rs31.05 to Rs354.35/litre, effective July 18. This hike, coupled with daily price fixing by OGRA, is due to global oil market volatility and Persian Gulf hostilities. The new policy aims to align local prices more closely with international trends. Higher fuel costs are expected to exacerbate domestic inflation, potentially impacting the USD/PKR exchange rate and supporting gold as an inflation hedge in Pakistan.
بحوالہ / Source: www.dawn.com