The government has once again increased the prices of petroleum products, taking the prices of both petrol and high-speed diesel above Rs 414 per litre. According to a statement issued by the Petroleum Division of the Ministry of Energy, the price of petrol has been increased by Rs 14.92 per litre, after which the new price has been fixed at Rs 414.78 per litre. Similarly, the price of high-speed diesel has been increased by Rs 15, after which its new price has become Rs 414.58 per litre.
The statement said that the new prices will be applicable from May 9, 2026. According to officials, the change in local prices became necessary due to the increase in global crude oil prices and increasing import costs. In recent weeks, the uncertainty in oil prices in the international market has continued, which is affecting many importing economies, including Pakistan.
According to analysts, the continued increase in the prices of petroleum products will not only increase the cost of transportation but may also affect overall inflation. In particular, the increase in the price of diesel will affect the agricultural sector and freight costs, which is expected to further increase the prices of essential goods.