The Government of Pakistan has officially notified a massive increase in the prices of petroleum products, effective immediately, following the dramatic escalation of the conflict in the Gulf region. The hike is one of the largest single-day increases in the country’s history.
According to the official notification, the price of Petrol has been increased by Rs 137.23 per litre, bringing the new consumer price to Rs 458.40. The impact on the transport and agricultural sectors is expected to be even more severe, as the price of High-Speed Diesel (HSD) has been raised by Rs 184.49 per litre, setting the new rate at a staggering Rs 520.35.
Finance Minister Muhammad Aurangzeb noted that while the government has tightened its belt by slashing administrative expenses, the sheer volatility of the international market—where prices escalated rapidly over the last few weeks—left no other choice. The massive jump in diesel prices is expected to have a significant ripple effect on the cost of transportation and essential food items in the coming days.