Fuel price hike in Pakistan: Petrol at 458, diesel at 520 after Iran-US conflict impact
Fuel price hike in Pakistan: Pakistan has witnessed a sharp surge in fuel prices, with petrol crossing PKR 458 per litre and high-speed diesel (HSD) exceeding PKR 520 per litre following a major revision by the government.
The increase comes in the wake of rising global crude oil prices triggered by the ongoing US-Iran conflict, which has disrupted supply routes and pushed up international rates. The revised prices came into effect from midnight on Thursday.
Petrol prices have been increased by PKR 137.23 to reach PKR 458.41 per litre, while diesel has risen by PKR 184.49 to PKR 520.35 per litre. Kerosene prices have also been raised by PKR 34.08, taking the rate to PKR 457.80 per litre.
This marks a steep jump compared to last month, when petrol was priced at PKR 321.17 and diesel at PKR 335.86 per litre.
To manage the impact, the government has revised petroleum taxes. The tax on petrol has been increased from PKR 105 to PKR 160 per litre, while the levy on diesel has been reduced from PKR 55 to zero to prevent further burden on consumers.
Pakistan’s Petroleum Minister Ali Pervaiz Malik described the move as a “difficult but necessary decision,” citing global market pressures. He stated that the government aims to maintain fiscal discipline and ensure economic stability, while limiting subsidies to the most vulnerable sections.
- With inputs from agencies
