• Source:JND

Amid tensions linked to the Iran-US conflict and concerns around the Strait of Hormuz, Pakistan has increased fuel prices. The government has raised the price of high-speed diesel (HSD) by Pakistani Rupees (PKR) 19.39 per litre and petrol by PKR 6.51 per litre for one week, ending May 8. The increase in fuel prices was reportedly announced by the Petroleum Division.

Pakistan Hikes Fuel Prices

According to news outlet Dawn’s report, diesel now costs PKR 399.58 per litre, while petrol is priced at PKR 399.86 per litre. High-speed diesel is widely used in transport and agriculture. The latest price hike comes during the sowing season and has raised concerns that farming costs could increase. Moreover, rising fuel and transport expenses are also expected to push up fertiliser prices, adding additional pressure on farmers.

Earlier, Pakistan’s Khyber Pakhtunkhwa province, including Peshawar, faced a severe shortage of natural gas. Many CNG stations were shut, forcing public transport operators and school vans to stop services or switch to expensive petrol. This led to higher fares and disruptions in daily travel, especially for students. Residents also reported unannounced gas load-shedding, which has impacted both domestic and commercial users.

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What’s Driving The Surge?

Fuel prices in Islamabad have been increased mainly due to rising global oil prices, which have made fuel imports more expensive. International crude oil prices have gone up due to blockade on Strait of Hormuz, increasing import costs for several countries, including Pakistan. According to Dawn, the government also raised prices to meet the International Monetary Fund (IMF) conditions and achieve revenue targets under the petroleum levy.

In a virtual meeting held on Thursday, the IMF was informed that Pakistan is on track to meet its petroleum levy target of Rs 1.468 trillion. Apart from this, regional instability in the Middle East has further pushed global oil prices up, impacting domestic fuel rates. As Islamabad imports most of its fuel, any global price change directly affects fuel prices in the country.

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