https://arab.news/rzcdb
- Prices of petrol and diesel surge to $1.43 per liter after the latest hike
- Iran war continues to push oil prices higher, disrupts global energy supplies
ISLAMABAD: Pakistan’s government increased the prices of both petrol and diesel on Thursday, an official notification by the Petroleum Division stated, as tensions between the US and Iran refuse to let up.
The price of petrol has increased by Rs6.51 per liter and high-speed diesel by Rs19.39 per liter, the Petroleum Division said in its notification. The new price of high-speed diesel after the increase is 399.58 [$1.43] per liter while the price of petrol has surged to Rs399.86 [$1.43] per liter.
“The government of Pakistan has revised the prices of the petroleum products effective from 1st May, 2026,” the Petroleum Division said.
Pakistan last Friday raised petrol and diesel prices by Rs26.77 ($0.096) per liter, as global oil markets remain volatile.
The latest hike comes as the war triggered by US and Israeli strikes on Iran on Feb. 28 continues to disrupt global energy supplies, particularly through the Strait of Hormuz, a narrow waterway between Iran and Oman that carries roughly a fifth of the world’s oil and liquefied natural gas.
Iran has since restricted shipping through the strait in response to the attacks, while the United States has maintained a counter-blockade targeting Iranian vessels, tightening supply and pushing crude prices sharply higher.
For Pakistan, which imports the bulk of its fuel, the impact has been immediate and severe, with rising oil prices feeding into inflation, transport costs and broader economic pressures.
Hours earlier, Prime Minister Shehbaz Sharif approved a one-month extension in subsidies previously announced for motorcyclists and transport operators.
The government had announced a subsidy of Rs100 ($0.36) per liter for motorcyclists, capped at 20 liters per month. To cushion the impact of surging fuel costs, the government also announced up to Rs70,000 ($252) subsidy per month for freight trucks, Rs80,000 ($288) for larger transport vehicles and Rs100,000 ($360) per month for public passenger buses.
In a statement shared by his office, the premier urged authorities to continue effective monitoring of public relief initiatives so that deserving individuals could benefit from them.
“Providing relief to ordinary citizens remains the government’s top priority, and the public will not be left alone under any circumstances,” Sharif was quoted as saying by his office.