Petrol prices are initiated by the international suppliers, Pakistan as being an importer of oil hike in fuel prices effect the economy and citizen the most. Fuel is being trade in USD at international markets and Pakistan as being a developing country it become much expensive to import fuel for the country.
The basic reason of increasing oil prices of fuel is the geo political tension amoung the world. Trade tension between the countries and the fuel exporters want to get more and more profits day by day they planned to increase the petrol prices in international markets.
With the increase in demand and supply is very much low due to few countries including Russia had refused to export oil to other countries prices are a bit high in the international market. Hike in fuel prices effects the daily routine of a common person as well.
The economy of countries are dependent on the oil prices with the increment in oil prices the transportation cost increases with effects the daily routines need items as well. In 2014 world has seen the global oil prices slump which was appreciated by the developing countries