The government has increased the prices of petrol and high-speed diesel (HSD) by Rs26.77 per litre, according to a notification issued by the Petroleum Division on Friday.
Following the latest revision, petrol is now priced at Rs393.35 per litre, while high-speed diesel stands at Rs380.19 per litre. The new rates came into effect for the week beginning April 25.
Petrol, widely used in private vehicles, motorcycles, and rickshaws, directly impacts middle- and lower-income households. Meanwhile, high-speed diesel is primarily consumed by heavy transport, agriculture machinery, and large-scale generators, making it a key driver of broader inflation.
The government has been reviewing fuel prices on a weekly basis amid volatility in global oil markets following the recent US-Israel conflict with Iran. The situation worsened due to disruptions in oil supply routes, particularly the closure of the Strait of Hormuz, through which a significant portion of the world’s oil shipments typically passes.
Since the escalation of tensions in late February, fuel prices have fluctuated sharply. On March 6, the government increased petrol and diesel prices by Rs55 per litre, followed by the announcement of austerity measures days later.
Although Prime Minister Shehbaz Sharif had previously rejected several proposals to raise prices despite rising international costs, significant hikes were introduced on April 2 by Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb.
Subsequent adjustments saw partial relief measures. The prime minister reduced the petroleum levy, bringing petrol prices down, and later approved further cuts in both petrol and diesel rates earlier this month.
Despite last week’s reduction in diesel prices, the latest increase underscores continued pressure from global energy markets, with authorities attempting to balance fiscal constraints and public relief.