ISLAMABAD: The federal government on Friday announced another major increase in petroleum prices, raising the price of petrol by Rs14.92 per litre and high-speed diesel (HSD) by Rs15 per litre for the next week amid an escalating fuel crisis linked to tensions in the Middle East.
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According to a statement issued by the Petroleum Division, the new price of petrol has been fixed at Rs414.78 per litre, while high-speed diesel will now cost Rs414.58 per litre.
The revised prices came into effect immediately.
Officials said the latest hike was driven by rising global oil prices and supply disruptions caused by the blockade of the Strait of Hormuz amid the ongoing conflict involving the United States and Iran.
Pakistan, which imports a major portion of its petroleum products through Gulf shipping routes connected to the Strait of Hormuz, has faced mounting pressure on fuel supplies and import costs in recent weeks.
The increase is expected to further intensify inflationary pressure across the country, particularly affecting transportation, agriculture and industrial sectors that heavily rely on diesel fuel.
Petrol prices in Pakistan have witnessed repeated increases over the past two months as the government continues weekly price adjustments in response to volatility in international oil markets and fiscal commitments linked to the International Monetary Fund programme.
The latest adjustment pushes petrol and diesel prices above Rs414 per litre, adding further burden on consumers already struggling with rising living costs.
