The Government of Pakistan has announced a significant increase in fuel prices, raising both petrol and diesel rates in response to ongoing volatility in international oil markets.
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According to an official notification issued by the Petroleum Division, the price of petrol has been increased by Rs26.77 per litre, bringing the new rate to Rs393.35 per litre. Similarly, high-speed diesel has also been raised by Rs26.77 per litre, setting the new price at Rs380.19 per litre. The revised rates will take effect from midnight and remain applicable for the coming week.
The adjustment comes at a time when global energy markets continue to fluctuate due to geopolitical tensions and supply chain uncertainties. Officials stated that regional instability has contributed to rising crude oil prices, placing additional pressure on domestic fuel pricing.
The Petroleum Minister said the government has been forced to make difficult decisions due to international pricing pressures and existing contractual obligations with global suppliers. He added that authorities have attempted to cushion the impact on consumers by absorbing part of the cost burden where possible.
Despite the increase, the minister highlighted that both federal and provincial governments have introduced relief measures in recent months to reduce the financial strain on the public. He also expressed optimism that improving regional stability could help stabilize global oil prices in the near future.
The latest hike is expected to have a broader impact on transportation costs and inflation, as fuel prices play a key role in determining the cost of goods and services across the country. Economists suggest that any sustained increase in petroleum rates could further affect household budgets and business operations.
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Authorities, however, maintain that adjustments are necessary to reflect global market realities and ensure continued fuel supply stability.