Pakistan Increases Petrol and Diesel Prices Amidst Market Volatility and Regional Tensions

Karachi. The Pakistani government has again increased the prices of petrol and high-speed diesel, citing fluctuations in international market oil prices and increased military tensions in the Persian Gulf region. The government has increased the price of petrol by Pakistani Rupees 6.39 per liter and high-speed diesel by 7.83 rupees.

According to the new prices, the price of petrol per liter has reached 327 rupees and 12 paisa, while high-speed diesel has been fixed at 375 rupees and 4 paisa. The new prices will be effective from Thursday, according to a notification issued by the Petroleum Division.

Earlier, the All Pakistan Petroleum Pump Owners Association had announced a nationwide strike protesting the daily fuel price determination system. However, after negotiations with the Petroleum Minister, the organization has postponed its movement for two weeks.

The price of diesel had previously reached 520 rupees and 35 paisa per liter on April 3. The price of diesel, which was 281 rupees per liter after the US-Iran war began on February 28, started increasing continuously.

Similarly, the price of petrol also started increasing from 266 rupees in the first week of March and reached up to 458 rupees and 41 paisa on April 3. Petroleum Minister Ali Pervez Malik has stated that in view of the daily changes in international market oil prices, fuel prices in Pakistan will now be determined daily.

According to him, as per the decision of the cabinet and the Prime Minister, the Oil and Gas Regulatory Authority has now been given the authority to determine prices daily according to the international market situation.

However, the All Pakistan Dealers Association has rejected the government's decision to determine prices daily. The organization has warned of announcing protest programs against the government. In Pakistan, since petrol is mainly used in private vehicles, motorcycles, rickshaws, and small cars, its price increase will directly affect the middle and lower-middle class citizens in particular.

Similarly, since high-speed diesel is used in heavy vehicles, cargo trucks, power generation centers, and large generators, its price increase is expected to increase transportation costs, which will also affect the prices of daily consumer goods.