‘Rs.458 per litre?!’ Social media stunned by shocking fuel hike

Petroleum prices surged sharply as the government raised petrol to Rs458.41 and diesel to Rs520.35 per litre, citing rising global oil prices driven by Middle East tensions.

By News Desk
By News Desk
Petrol prices Pakistan

The government on Thursday announced a steep increase in petroleum prices, pushing petrol to Rs458.41 per litre and high-speed diesel (HSD) to Rs520.35 per litre, amid rising global oil prices.

The decision was unveiled at a press conference by Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb. The latest revision marks a sharp jump from prices notified earlier in March, when petrol stood at Rs.321.17 per litre and HSD at Rs335.86. This reflects an increase of Rs137.24 per litre for petrol and Rs184.49 for diesel.

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In a bid to cushion the impact on lower-income commuters, Aurangzeb announced a targeted relief measure under which motorcycle users will be able to purchase up to 20 litres of petrol at a subsidised rate of Rs100 less per litre.

The hike comes as international oil markets witness significant volatility. Brent crude rose nearly 7.9% to $109.12 per barrel, while US West Texas Intermediate (WTI) surged 12.5% to $112.60, marking its highest level since early March. Despite the surge, prices remain below earlier peaks of around $120 per barrel recorded during the ongoing regional conflict.

Speaking at the briefing, Malik attributed the price increase to escalating tensions in the Middle East, saying the crisis had impacted global energy markets. He emphasised the need for unity and discipline, expressing hope that the government’s “difficult and responsible” decision would be understood in the broader geopolitical context.

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The move comes despite earlier resistance from Prime Minister Shehbaz Sharif, who had rejected multiple proposals to raise fuel prices, stating the government would absorb the financial burden instead of passing it on to the public.

This is the second fuel price adjustment within a month. On March 6, prices were already increased by Rs55 per litre following escalating tensions triggered by strikes between the United States, Israel, and Iran, and Tehran’s threat to close the Strait of Hormuz.

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