Pakistan has sharply increased fuel prices, pushing petrol and high-speed diesel rates up by PKR 55 per litre. The move comes at a time when the country is already facing rising living costs and economic strain.
With the revision that took effect on March 7, petrol now costs PKR 321.17 per litre, while high-speed diesel has risen to PKR 335.86 per litre, according to a report by local news outlet Dawn. The steep increase, roughly around 20%, has triggered widespread concern among citizens who fear it will make daily life even more expensive.
The announcement comes during the holy month of Ramadan, when many families are already struggling with high expenses.
What the price hike means
The government announced the increase, raising the prices of both petrol and high-speed diesel by PKR 55 per litre. As a result:
- Petrol price revised to PKR 321.17 per litre from PKR 266.17
- High-speed diesel price fixed at PKR 335.86 per litre
As per the officials cited by news agency ANI, the decision was unavoidable as international oil prices have surged amid the ongoing crisis in West Asia.
The escalating conflict involving the United States, Iran and Israel has disrupted global energy supply routes. One of the most crucial energy chokepoints, the Strait of Hormuz has effectively been paralysed, affecting oil shipments and squeezing supply lines.
Government officials, including Deputy Prime Minister Ishaq Dar, said Islamabad had “little choice” but to pass the global price shock on to consumers in order to stabilise national energy finances and meet commitments discussed during IMF consultations.
Citizens voice frustration
For ordinary Pakistanis, however, the impact is immediate and deeply personal. Many say the sudden spike in fuel prices has made an already difficult situation even harder.
Muhammad Nadeem, a commuter, described the strain the increase is putting on his finances. “It feels like a noose has been tightened around our necks. Nothing makes sense anymore. Yesterday, when I filled up with petrol, things still felt manageable. But today, I had to refill at Pakistani Rupees (PKR) 324 per litre. I am doing two jobs, but it’s still not enough to cover the expenses. Life is becoming increasingly difficult,” he told ANI.
Commuter, Sohail Mahmood said, “… Prices keep rising with little hope of falling. They may drop by around 10%, but no more than that. This is making it increasingly difficult for us to survive…”
Others fear that the rise in petrol and diesel prices will soon ripple through the entire economy.
Rider, Muhammad Nadeem said, “… Yesterday, when I filled up petrol, things still felt manageable. But today, I had to refill at ₹324 per litre. I am doing two jobs, but it’s still not enough to cover the expenses. Life is becoming increasingly difficult…”
Another commuter, Mujeeb Iqtidar, expressed anger over the government’s handling of the situation. “Our government has never thought about our well-being or progress. It’s not only fuel prices–other essentials will also become more expensive. This is just a beginning,” he said.
Economists warn that the fuel price shock could trigger a new wave of inflation in the country.
(With ANI inputs)
