US Dollar versus Petrol prices in Pakistan

What are the reasons for the price hike in US Dollar and Petrol, some reasons are given below
International Oil Prices: The price of petrol in Pakistan is influenced by international crude oil prices. Fluctuations in global oil markets, due to factors such as supply and demand dynamics, geopolitical events, and production levels by major oil-producing countries, can impact petrol prices.

Exchange Rate: The value of the Pakistani Rupee (PKR) against the US Dollar is a significant factor affecting the cost of imported goods, including oil. If the PKR weakens against the USD, it can lead to higher petrol prices, as it takes more rupees to purchase a dollar.

Government Policies: The government of Pakistan can also play a role in setting petrol prices through taxation and subsidies. Changes in tax rates and allowances can directly impact the cost of petrol for consumers.

Global Economic Conditions: Broader economic conditions, both globally and within Pakistan, can influence petrol prices. Economic factors such as inflation, unemployment, and overall financial stability can indirectly impact fuel prices.

Supply Chain and Transportation Costs: Distribution and transportation costs, as well as supply chain disruptions, can affect the final retail price of petrol.