The government of Pakistan has increased the prices of petrol and diesel by Rs26.77 per litre with immediate effect, citing rising global oil prices and fiscal requirements linked to commitments with the International Monetary Fund.
Under the revised rates, petrol has been set at Rs393.35 per litre and high-speed diesel at Rs380.19 per litre. The increase represents a rise of more than 7 percent for both fuels.
Officials said the adjustment reflects changes in international energy markets and the government’s need to meet revenue targets in the final phase of the fiscal year. Authorities also partially restored the petroleum levy on petrol while maintaining adjustments on diesel taxation.
The petroleum division said the decision was taken in response to rising global oil prices amid ongoing regional tensions and financial commitments under international agreements.
Petroleum Minister Ali Pervez Malik said the government had previously absorbed higher international prices to provide relief to consumers but was now required to adjust rates due to limited fiscal space and external obligations.
The latest revision comes after fluctuations in fuel prices in recent weeks, driven by global market volatility linked to geopolitical developments in the Middle East.
Petrol and diesel remain key revenue sources for the government, with combined monthly consumption estimated at hundreds of thousands of tonnes, primarily driven by transport and freight demand.