The federal government has announced a significant increase in petroleum product prices, raising petrol by Rs. 137.23 per litre and high-speed diesel (HSD) by Rs. 184.49 per litre, citing rising global oil prices and supply disruptions.
With the latest revision, petrol is now priced at Rs. 458.41 per litre, while diesel has surged to Rs. 520.35 per litre, marking one of the highest fuel price levels in Pakistan’s history.
Officials said the increase follows a sharp spike in international oil prices triggered by escalating tensions in the Middle East. Disruptions in key oil supply routes, particularly around the Strait of Hormuz, have significantly impacted global fuel availability, pushing prices upward.
According to the petroleum minister, global diesel prices have crossed $250 per barrel, putting strong pressure on fuel-importing countries like Pakistan.
The government stated it attempted to manage the situation through austerity measures and expenditure cuts, but due to limited financial capacity, the price increase became unavoidable.
Instead of providing blanket subsidies, authorities have introduced targeted relief measures aimed at supporting vulnerable groups. These include subsidies for motorcyclists, public transport operators, goods transporters, and Pakistan Railways to help control fare increases.
Earlier, fuel prices were increased by Rs. 55 per litre on March 6 after the crisis began. In the following three price reviews, rates were kept unchanged before this latest major hike.
The increase is expected to have a wide-ranging impact on the economy, including higher transportation costs, rising prices of goods, and additional pressure on inflation. Businesses and consumers alike are likely to feel the effects in the coming weeks.
Officials said the government is closely monitoring the situation and has formed a committee to ensure uninterrupted fuel supply and respond to further changes in global oil markets.
The latest development highlights Pakistan’s dependence on international energy markets and how global events can directly affect domestic fuel prices and everyday life.
