The government has hiked prices of petroleum goods once again, according to a notification released on Monday.

Rs0.39 per litre in the price of petrol Rs2.40 per litre in the price of high-speed diesel

Petrol will now be priced at Rs341.98 per litre and diesel at Rs370.69 a litre with the current revision.

Also Read: Petrol prices hiked in Pakistan The government has increased the pricing of petroleum goods again, according to a notification released on Monday.

Rs0.39 per litre in the price of petrol Rs2.40 per litre in the price of high-speed diesel

The current revision would see petrol being priced at Rs341.98 per litre and diesel at Rs370.69 per litre.

The new pricing would be applied from midnight and the prices would be in force for one day, the government notification said.

Earlier, the margin of dealers on petrol and diesel was enhanced by 14 percent. With immediate effect, an additional Rs1.34 per litre has been allowed for dealers of both petroleum products.

The hike has raised the dealers’ margin to Rs9.98 a litre from Rs8.64, petrol by Rs3.81 and diesel by Rs3.59 a litre.

The government notification said the revised pricing will be effective from midnight and will be applicable for one day.

Dealers’ margin on petrol and diesel had already been increased by 14 percent. An additional Rs1.34 per litre was granted for the dealers of both petroleum products with immediate effect.

After the hike, the margin of the dealers has increased to Rs9.98 per litre from Rs8.64.

Federal Minister for Commerce Jam Kamal Khan held a private meeting with Ministry’s Foreign Trade Wings to discuss Pakistan’s export performance, bilateral trade engagements and progress on trade agreements.

The Minister was happy with the improved export growth in a number of emerging areas and told authorities to build on this momentum through diversifying markets, strengthening business-to-business linkages and deeper engagement with overseas trade missions.

He stressed on tapping new markets for Pakistani rice, textiles, agricultural products, pharmaceuticals, processed food, light engineering goods and services.

Jam Kamal Khan asked the Foreign Trade Wings to produce nation specific action plans on priority items, market access constraints, logistical and banking problems, possible purchasers and pending institutional interactions.

He said that trade deals should be balanced and commercially significant for Pakistan. In the meanwhile, current arrangements should be reviewed regularly, while meetings of the Joint Trade Committee and Joint Working Group should be hastened.

The Minister also urged for improved coordination among the Ministry of Commerce, Ministry of Foreign Affairs, abroad missions, chambers of commerce and trade associations to convert diplomatic engagements into tangible export and investment results.

“Pakistan’s exporters have shown good potential in traditional and emerging markets. “We have to focus on removing barriers, diversifying exports and converting every trade engagement into measurable economic gains,” said Jam Kamal Khan.

 Bitcoin rose above $80,000 to hit a more than three-month high on Tuesday as a soft US dollar, in the wake of the moves by Treasury Secretary Scott Bessent to calm the bond market, revived momentum in the crypto sector.

US President Donald Trump last week called on Congress to pass a bill that would bring clearer definitions to the growing cryptocurrency sector. Since then, bitcoin, the world’s largest cryptocurrency, has risen 16 per cent.

It was last at $80,323.24 in Asian hours, having earlier touched $81,237.94, its highest level since mid-May. Bitcoin is up 28pc so far in August, set for its biggest monthly gain since November 2024.

Cryptocurrencies also got a big boost after the US Treasury last week unveiled plans to buy back more long-dated bonds to help cap the gains in the long-end yields, a move that has led to the US dollar bearing the brunt of investor angst.

Tim Sun, senior researcher at HashKey Group, said Bessent’s messaging has reinforced the market’s view that, at least through the midterm elections, US policymakers may have a lower tolerance for a further rise in long-end yields.

“That would create a relatively supportive macro backdrop for assets such as bitcoin and gold,” Sun said.

Gold has been the other beneficiary of the dollar weakness, rising to a three-month high.

The Treasury announcement is “exactly the type of thing bitcoin loves”, Geoff Kendrick, global head of digital assets research at Standard Chartered, said in a note last week, adding that bitcoin was built to allow investors a way to avoid this type of intervention.

The action stoked increased chatter around the so-called debasement trade, where the moves to prevent long-end yields from reaching market-clearing levels via buybacks lead the pressure to shift from the bond market to the currency market.

“This (Treasury announcement) prompted buyers to scramble into physical and digital assets as debasement trade fears re-emerged,” said Tony Sycamore, market analyst at IG.

“A sustained break above here would open the door for a move towards $95,000 and $100,000.”