The government has announced a Rs 55 per litre increase in the prices of petrol and high-speed diesel. The decision was announced on Friday during a press conference in Islamabad.
After the increase, the price of petrol has gone up from Rs 266.17 to Rs 321.17 per litre. Meanwhile, the price of high-speed diesel (HSD) has increased from Rs 280.86 to Rs 335.86 per litre.
Petroleum Minister Ali Pervaiz Malik shared the announcement alongside Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.
During the press conference, Dar said that the new fuel prices will take effect from midnight. This means consumers across Pakistan will start paying the higher rates immediately.
He explained that the decision comes as global tensions increase, especially due to the ongoing conflict involving Iran, the United States, and Israel. According to him, the conflict has expanded and is now affecting the wider region, creating uncertainty in international energy markets.
Pakistan depends heavily on imported oil, so any rise in global crude oil prices quickly affects domestic fuel prices. When tensions increase in the Middle East, oil markets often become unstable because the region is one of the world’s largest energy suppliers.
Fuel price increases usually have a direct impact on everyday life in Pakistan. Petrol is widely used in motorcycles, rickshaws, and private vehicles, which many middle- and lower-income households rely on for daily travel. Diesel, on the other hand, powers buses, trucks, tractors, and other heavy vehicles that move goods across the country.
Because of this, a rise in diesel prices can increase transportation costs, farming expenses, and freight charges, which may later push up the prices of vegetables, food items, and other daily goods.
Pakistan also reviews petroleum prices regularly based on international oil prices, exchange rates, and recommendations from regulators, meaning domestic fuel costs often change when global markets fluctuate.
With the new increase, many analysts expect higher transport fares and additional pressure on inflation in the coming weeks.