Pakistan’s government has announced a 20% increase in retail fuel prices, citing surging global oil prices driven by escalating tensions in the Middle East. In a televised address, Petroleum Minister Ali Pervez Malik confirmed a historic hike—raising fuel prices by 55 Pakistani rupees (approximately €0.17). As a result, the price of diesel now stands at 321.17 rupees (€0.99) per litre, while petrol is priced at 335.86 rupees (€1.04) per litre.
“We have taken this decision reluctantly due to the sharp rise in global oil prices,” said the minister. The move is expected to push inflation higher, disproportionately affecting Pakistan’s low-income population.
Prior to the announcement, long queues formed at fuel stations across major cities—including Lahore and Karachi—as drivers rushed to fill up ahead of the price adjustment.
On Friday, Prime Minister Shehbaz Sharif warned that hoarding fuel would be met with strict penalties. Pakistan imports most of its crude oil from Saudi Arabia and the United Arab Emirates via the Strait of Hormuz.
The government, through the Ministry of Petroleum, said it will review fuel pricing on a weekly basis to respond to international market fluctuations.