Islamabad, Sept. 23 -- Pakistan could see petrol prices rise as high as PKR 1,000 (USD 3.61) per litre if the country faces a serious fuel shortage, Petroleum Minister Ali Pervez Malik said on Sunday, as rising global crude prices continue to put pressure on the domestic market.
The dollar equivalents are based on a recent mid-market rate of about PKR 277.2 to USD 1.
Petrol is currently being sold at around PKR 389.14 (USD 1.40) per litre, while diesel costs about PKR 424 (USD 1.53), according to figures cited by the minister.
Malik said petrol prices had already risen by nearly 50pc and warned that further increases could follow if supplies tighten.
The increase has come amid the ongoing conflict in West Asia, which has pushed up inter...