The All Pakistan Business Forum (APBF) has rejected jump in prices of petroleum products by more than 4.5 percent for the first half of July 2021 despite the fact that Pakistan’s headline national inflation is still in high range of over 9 percent. In a statement issued here on Sunday, APBF President Syed Maaz Mahmood said the price of petrol was increased by Rs2 per litre and that of high-speed diesel by Rs1.44 per litre. The price of kerosene was increased by Rs3.86 per litre and that of LDO by Rs3.72 per litre, respectively. Maaz Mahmood said that oil prices and inflation are closely connected in a cause-and-effect relationship. As fuel rates move up, inflation, which is the measure of general price trends throughout the economy, follows in the same direction upward. On the other hand, if the rates of fuel fall, inflationary pressures start to drop. APBF Chairman Ibrahim Qureshi said that the high speed diesel is used mostly in the transport and agriculture sectors.