Massive blow for Pakistanis as the government sharply increased fuel prices in response to soaring global oil costs. Petrol has jumped to Rs458 per litre from Rs321.17, a staggering Rs137 increase, while diesel has surged from Rs335.86 to Rs520 per litre, a massive Rs184.49 rise.
New Petrol Price
| Product | New Price |
| Petrol | 458.40 |
| Diesel | 520.35 |
Petroleum Minister Ali Pervaiz Malik made announcement in a press conference alongside Finance Minister Muhammad Aurangzeb. At the start of the briefing, Malik expressed gratitude to President Asif Ali Zardari, provincial chief ministers, and allied party leadership for their guidance during what he described as a “critical time,” emphasizing the challenges Pakistan faces amid rising global oil prices.
The government is passing the brunt of rising international oil costs directly onto the public, offering only limited relief to select groups such as farmers and motorbike users.
The dramatic price revision was discussed at a high-level meeting chaired by Finance Minister Muhammad Aurangzeb, attended by provincial chief ministers, Khyber Pakhtunkhwa’s finance minister, and senior federal officials. Sources say the final decision could be announced within days, though exact figures remain uncertain due to volatile global oil markets.
Last month, fuel subsidies cost the government nearly Rs129 billion. The administration under Prime Minister Shehbaz Sharif is aiming to keep total subsidy spending below Rs158 billion, prompting moves to shift more of the burden to consumers.
Provincial governments may also share the subsidy costs. Punjab and Sindh would contribute according to population, while Khyber Pakhtunkhwa and Balochistan would pay based on fuel consumption. Reports suggest Punjab and Sindh may back passing the full hike to the public while providing targeted aid only to priority sectors. Officials warn that such a step could trigger political backlash amid rising inflation and pressure on household budgets.
This surge comes amid a global fuel crisis, with oil prices climbing sharply in over 85 countries due to supply disruptions linked to tensions in Iran. Petrol prices in Pakistan have already risen nearly 20 percent, while India has managed to keep domestic fuel rates largely stable despite the global surge.
The latest hike is expected to hit commuters and businesses hard, raising fears of a new wave of inflation across the country.
