Petrol and diesel prices jump to Rs393 and Rs380 respectively
The sharp increase has raised concerns for consumers already facing financial pressure. The decision was announced by the Petroleum Division.
According to the official statement, the revised prices will apply for the new week. The update reflects changes in the global oil market. Petrol is widely used in bikes, cars, and rickshaws. This makes it directly affect daily expenses of common people.
High-speed diesel is mainly used in trucks and heavy transport. It also powers large generators in industries. An increase in diesel prices usually raises transport costs. This can also increase prices of goods in the market.
The recent increase is linked to global tensions after the US-Israeli war on Iran. The conflict disrupted global oil supply. The closure of the Strait of Hormuz caused a major fuel shortage. This route carries a large portion of the world’s oil supply.
After the conflict began, fuel prices were increased by Rs55 per litre in early March. The government also introduced strict economic measures. In the following weeks, the government avoided further increases despite rising global prices. This provided temporary relief to consumers.
On April 2, a massive increase in fuel prices was announced. Petrol and diesel prices saw sharp percentage jumps. Officials also introduced a targeted fuel subsidy program. This was aimed at supporting selected groups.
Prime Minister Shehbaz Sharif had earlier resisted increasing prices multiple times. However, global pressure made it difficult to maintain rates. Authorities say price changes are necessary due to international market conditions. The situation remains uncertain.
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Fuel prices are rising mainly due to global issues. Pakistan depends on international oil markets. Higher fuel prices affect transport and daily life. Poor and middle-class people feel the biggest impact.
The government is trying to manage the situation. But global conditions are making it difficult. Prices may continue to change in the coming weeks.
