Pakistan has increased consumer prices for diesel and petrol by nearly 20%, citing the sharp rise in global oil prices driven by the ongoing conflict related to Iran and rising tensions in the region.
The announcement was made by Pakistan’s Petroleum Minister Ali Pervaiz Malik, who confirmed a historic price increase of 55 Pakistani rupees (about $0.20) per liter.
Following the adjustment, diesel prices climbed to 335.86 rupees per liter, while petrol rose to 321.17 rupees per liter.
Malik said the government had been forced to make the decision due to the sharp surge in international oil prices, which has significantly increased Pakistan’s import costs.
The country relies heavily on imported fuel supplies that are shipped through the strategic Strait of Hormuz.
The price hike is expected to push inflation higher, placing additional pressure on low-income households across the country.
Diesel in particular plays a key role in transportation, agriculture, and power generation, meaning the increase could have wide economic consequences.
Before the official announcement, long queues formed at petrol stations in major cities such as Lahore and Karachi as motorists rushed to fill their tanks amid fears of further increases or possible shortages.
Meanwhile, Shehbaz Sharif warned citizens against hoarding fuel, stressing that authorities would take strict action against anyone attempting to stockpile supplies.
He reassured the public that Pakistan still has sufficient fuel reserves but said the government may introduce consumption-control measures as uncertainty continues over the duration of the Middle East crisis.
Officials also indicated that fuel prices will now be reviewed on a weekly basis, depending on developments in global energy markets.
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