ISLAMABAD: The prices of all petroleum products were estimated to increase by Rs4.50 to Rs7 per litre on Saturday for the next fortnight ending March 15, owing to a slight upward trend in the international market.

Official sources said the benchmark crude prices had slightly moved up this week in view of regional tensions. Therefore, the price of all products, including petrol, high speed diesel (HSD), kerosene and light diesel oil (LDO) were inching up and set to significantly impact the pricing pattern on February 28 for the following fortnight.

Based on existing tax rates, the sources said the ex-depot prices of petrol, HSD, LDO and kerosene had been estimated to go up by about Rs4.50 per litre, Rs4.70, Rs7, and Rs5 per litre, respectively, depending on final calculations on Saturday.

The ex-depot petrol price set by the government currently stands at Rs258.17 per litre but is sold at more than Rs259.30 per litre at retail stations. The official prices for HSD currently stands at Rs275.70 but is sold in the retail market on the higher side of Rs277 per litre.

The kerosene and LDO rates currently stand at Rs180.53 and Rs161.72 per litre, respectively. However, kerosene oil is nowhere sold below Rs300 per litre in the open market.

Together with customs duty, the petroleum levy and the climate support levy, the government is currently charging about Rs105 per litre taxes on petrol and about Rs98 on HSD.

Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers and has a direct bearing on the budget of the middle and lower-middle class.

While the heavy transport sector runs on HSD, its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers, and particularly adds to the prices of vegetables and other eatables.

Besides the petroleum levy, the government is also charging about Rs17-18 per litre custom duty on petrol and HSD, irrespective of their local production or imports. In addition, about Rs17 per litre distribution and sale margins are going to oil companies and their dealers.

Petrol and HSD are the major revenue spinners with their monthly average sales of about 700,000–800,000 tonnes compared to just 10,000 tonnes for kerosene.

The government recovered about Rs1.161 trillion through the petroleum levy alone in FY2025 and expects this to jump by about 27pc to Rs1.470tr during the current fiscal year.

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Gold prices were largely steady on Friday, on track for their seventh straight month of gains as uncertainty over US tariff policies and tensions between the US and Iran boosted the metal’s safe-haven appeal.

Spot gold edged down 0.1 per cent to $5,181.18 per ounce by 08:37 GMT. The metal has climbed 6.5pc so far in February, bringing gains for the seven months to a whopping 58pc.

US gold futures for April delivery were up 0.1pc at $5,198.10.

The benchmark 10-year yield fell to a three-month low on the day, decreasing the opportunity cost of holding non-interest-paying gold.

“There are two things (supporting gold). First is the tariff uncertainty which is there in the market right now, and on the other hand, the Iran and the US situation,” said ANZ analyst Soni Kumari.

The United States and Iran held indirect talks in Geneva on Thursday over their long-running nuclear dispute, with the Omani mediator saying the two sides had made progress.

They plan to resume negotiations with technical-level discussions scheduled next week in Vienna.

“The latest rounds of talks have not produced a clear outcome, leaving geopolitical risks present but not escalating. This has kept gold at elevated levels, though it has not yet provided sufficient momentum to establish a sustainable bullish trend,” said Linh Tran, Senior Market Analyst at XS.com.

The US began collecting a temporary new 10pc global import tariff on Tuesday. However, the rate will rise to 15pc for some countries, US Trade Representative Jamieson Greer has said.

On the data front, the number of Americans filing new applications for jobless benefits increased slightly last week, but the unemployment rate was steady in February.

Spot silver rose 1.7pc to $89.87 per ounce, and was headed for a 6.2pc gain on the month.

Spot platinum climbed 4.1pc to $2,365.33 per ounce, a four-week high, while palladium gained 2.1pc to $1,821.28.

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Pakistan’s benchmark index, KSE-100, closed in the red, down 830.92 points from its previous close of 168,893.08.

The index saw significant volatility, swinging between an intraday high of 169,379.97 points and a low of 165,811.87 points. It dropped over 1,000 points during the morning session, recovered slightly by midday, but ultimately fell into the red to close at 168,062.16 points.

Trading activity remained reasonable, with volumes recorded at 222,442,620 shares, at a value of Rs18,971,818,996.

Among the most active stocks, Unity Foods Limited led the volumes chart, falling 9.96 per cent to Rs10.67 on 50,304,604 shares. It was followed by First National Equities Limited, which gained 1.32pc to Rs1.54 on 36,245,681 shares, and The Bank of Punjab, which declined 0.35pc to Rs31.70 on 30,604,655 shares.

On the gaining side, Gulistan Spinning Mills Limited emerged as the top advancer, climbing 19.42pc to Rs6.15. Media Times Limited followed with an 11.04pc increase to Rs6.54, while Paramount Spinning Mills Limited rose 10.77pc to Rs5.76.

Meanwhile, the decliners were led by LOADS Limited (Right), which plunged 37.5pc to Rs0.40. Gulshan Spinning Mills Limited fell 10.21pc to Rs4.22, and Escorts Investment Bank Limited slipped 10.01pc to Rs21.57.

This dip in the market came as Pakistan has launched Operation Ghazab lil-Haq against the Afghan Taliban after “unprovoked firing” from across the border.

On Thursday, the benchmark index recovered slightly, gaining 4,266.79 points after this week’s previous sessions saw a sustained sell-off.

In company news, Engro Holdings (ENGROH) released its results for the fourth quarter of 2025 on Friday. The results were better than expected due to lower than expected Effective Tax Rate (ETR), according to analysts at Topline Securities.

Engro Holdings Limited closed 0.78pc higher, trading at Rs271.34.

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