Pakistan's Petroleum Division announced new fuel prices effective July 18, with petrol increasing by Rs5.44 to Rs316.15/litre and HSD surging by Rs31.05 to Rs354.35/litre. The government will now deregulate prices, with OGRA announcing daily rates based on Platts' 7-day moving average data, citing renewed Persian Gulf hostilities. This decision faces backlash from industry stakeholders concerned about market disruption and operational challenges. Higher fuel costs are likely to fuel inflation, potentially pressing the Pakistani Rupee and supporting local gold demand as an inflation hedge.
بحوالہ / Source: www.brecorder.com