ISLAMABAD (MNN); The federal government has announced a sharp increase in petroleum prices, raising petrol by Rs8 per litre and high-speed diesel (HSD) by Rs5.16 per litre for the next fortnight.
According to an official notification, the revised prices will take effect from March 1 as part of the regular pricing cycle. Officials described the move as a routine adjustment; however, concerns are mounting over volatility in global oil markets amid the ongoing US-Iran conflict.
An official indicated that escalating tensions could push international oil prices to their highest levels in recent years. Particular concern surrounds the strategic Gulf of Oman, a critical maritime corridor linking the Arabian Sea to the Strait of Hormuz. The route serves as a major artery for global crude oil shipments, with a substantial portion of the world’s energy supplies passing through it daily.
Any disruption or closure of this passage could severely impact global oil supply chains, driving up international crude prices and, in turn, increasing domestic fuel costs for oil-importing countries like Pakistan.
Following the latest revision, petrol will cost Rs8 more per litre, while high-speed diesel has risen by Rs5.16 per litre. Analysts warn that the increase is likely to raise transportation expenses and intensify inflationary pressures across multiple sectors of the economy.
The official notification did not elaborate on specific pricing components or detailed reasons behind the increase.
