Pakistan Fuel Prices Surge Amid Oil Shock
Pakistan Fuel Prices Surge Amid Oil Shock
Pakistan has announced another sharp increase in fuel prices as global crude markets remain volatile during the Middle East conflict. The new rates, which take effect from Friday, mark the second major revision in less than a month and are expected to add further pressure on inflation and household costs across the country.
Pakistan Diesel Price Hike
Pakistan has raised diesel prices by 54.9% to 520.35 Pakistani rupees per litre, while petrol prices have gone up by 42.7% to 458.40 Pakistani rupees per litre. The government said the move was driven by surging international oil prices linked to the ongoing U.S.-Iran conflict. Petroleum Minister Ali Pervaiz Malik said the increase had become unavoidable because global market prices had moved sharply higher.
Pakistan Petrol Price Impact
The latest fuel price revision is likely to worsen cost-of-living pressures in Pakistan, which depends heavily on imported oil, especially supplies routed through the Strait of Hormuz. The government has acknowledged that the increase will strain consumers and has announced limited relief measures for vulnerable groups. These include a subsidy of 100 rupees per litre for two-wheeler users, capped at 20 litres per month for three months.
Pakistan Oil Import Crisis
Finance Minister Muhammad Aurangzeb also announced support for small farmers, including a one-time subsidy of 1,500 rupees per acre. He said agriculture accounts for about 24% of Pakistan’s GDP, making fuel costs a wider economic concern. Officials added that blanket subsidies were no longer sustainable after 129 billion rupees had already been spent over the previous three weeks.
