The federal government has once again increased the prices of petroleum products, marking the second consecutive weekly hike amid rising tensions between the United States and Iran that continue to push international oil prices higher.
According to the latest notification issued by the Petroleum Division, the price of petrol has been raised by Rs. 5.44 per litre, taking the new rate to Rs. 316.15 per litre. Meanwhile, high-speed diesel (HSD) has witnessed a much sharper increase of Rs. 31.05 per litre, bringing its new price to Rs. 354.35 per litre.
The revised fuel prices came into effect immediately after the official announcement.
In a significant policy shift, the government has also decided that petroleum prices will now be reviewed and updated on a daily basis until further notice, replacing the previous weekly adjustment mechanism.
The latest increase comes as uncertainty grips the global energy market following renewed conflict involving the United States and Iran. The escalating geopolitical situation has fueled concerns over oil supply disruptions, with Brent crude trading around $87 per barrel at the time of reporting.
Adding to domestic concerns, reports earlier this week suggested an artificial shortage of petrol in several parts of Pakistan, forcing multiple fuel stations to temporarily suspend sales and creating long queues at operational pumps.
The current revision follows last week’s increase, when petrol prices were raised by Rs. 13 per litre to Rs. 310, while diesel prices climbed by Rs. 14 per litre to Rs. 324.
Pakistan has experienced significant fluctuations in fuel prices this year. Since the government’s regular fuel price adjustment mechanism began, petrol has climbed from approximately Rs. 266 per litre in March to a record Rs. 458.41 per litre on April 3. Similarly, diesel reached an all-time high of Rs. 520.35 per litre on April 3 after standing at Rs. 281 per litre at the end of February.
With global oil prices remaining volatile, analysts believe further fluctuations in local fuel prices cannot be ruled out in the coming days.
