KARACHI: Pakistan’s government has increased the price of petrol by Rs8 per liter for the next fortnight, the Ministry of Energy announced in a notification this week.
The notification issued late Saturday night said the new price of petrol has increased from Rs258.17 to Rs266.17 per liter.
Meanwhile, the new price of high-speed diesel (HSD) has also increased by Rs5.16 per liter, pushing the new price to Rs280.86 per liter.
“The government has revised the prices of petroleum products based on recommendations of OGRA [Oil and Gas Regulatory Authority],” the notification reads.
Fuel prices in Pakistan are reviewed fortnightly and are influenced by global oil prices, exchange rate movements and domestic taxes. The pricing mechanism passes changes in import costs on to consumers.
Pakistan’s government also increased the price of petrol by Rs5 per liter and that of HSD by Rs7.32 per liter on Feb. 15.
The latest price hike takes place amid increased tensions in the Middle East, a day after the US and Israel launched airstrikes against Iran.
Iran retaliated by attacking US military bases in several Gulf nations. Analysts fear the conflict could rattle global markets, particularly if Iran makes the Strait of Hormuz unsafe for commercial traffic.
A third of worldwide oil exports transported by sea passed through the strait in 2025.
