By Our Correspondent
ISLAMABAD: The government on Friday increased the prices of petrol and high-speed diesel by Rs26.77 per litre, revising fuel rates upward for the coming week amid continued volatility in global energy markets.
Read also: Prime Minister announces Rs12 reduction in petrol prices in address to nation
According to a notification issued by the Petroleum Division, the new prices will take effect from April 25, with petrol now priced at Rs393.35 per litre, while high-speed diesel (HSD) has risen to Rs380.19 per litre.
The latest increase is expected to impact transport costs and inflationary pressures, particularly as petrol is widely used by private motorists, motorcycles, rickshaws and small transport operators, directly affecting middle and lower-middle income households.
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High-speed diesel, a key fuel for heavy transport, agriculture and industrial generators, is also closely linked to freight charges and broader supply chain costs.
Officials said the weekly revision comes as authorities continue adjusting domestic fuel prices in response to global market trends and supply concerns following recent geopolitical disruptions.
Fuel pricing has remained under pressure since the conflict involving the United States, Israel and Iran triggered a global energy shock and contributed to supply uncertainty linked to disruptions around the Strait of Hormuz.
Since the conflict began in late February, the government has made several major revisions to petroleum prices, including an initial Rs55 per litre increase announced in early March.
Subsequently, Prime Minister Shehbaz Sharif had on several occasions resisted proposed fuel hikes despite rising international oil prices.
Earlier this month, Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb announced a significant increase in petroleum prices, alongside a targeted fuel subsidy programme.
However, the government later moved to soften the burden by reducing the petroleum levy, bringing petrol prices down, followed by further cuts in diesel and petrol rates in subsequent reviews.
Last week, diesel prices had been lowered by more than Rs32 per litre, while petrol prices were left unchanged.
Friday’s sharp increase reverses some of those reductions and signals renewed pressure from international market movements.
Economists say higher fuel prices could have ripple effects across transportation, food costs and industrial production, potentially adding to inflationary concerns.
Market observers will now be watching whether global oil movements and supply conditions allow for relief in the next review.
