Govt jacks up petrol to Rs458, diesel to Rs520 amid global oil surge

ISLAMABAD: The federal government has announced a sharp increase in petroleum prices, pushing petrol to Rs458 per litre and high-speed diesel to Rs520 per litre, amid rising global crude oil prices linked to tensions in the Middle East.

The latest hike marks a significant jump in fuel costs, with petrol prices already having risen by Rs63 per litre over the past month — from Rs258.17 to Rs321.17 — while diesel increased by Rs60.16 to Rs335.86 per litre before the latest adjustment.

Transport operators across the country are expected to pass on the additional burden to passengers, with fares for buses, taxis and ride-hailing services likely to increase in the coming days, adding to the financial strain on commuters.

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Analysts warn that the surge could rank among the largest month-on-month fuel price increases in recent history, driven by escalating geopolitical tensions and disruptions in global energy supply chains.

The impact is also expected to extend to businesses, as higher fuel prices will raise transportation and logistics costs, potentially leading to an increase in the prices of essential goods and services.

Consumers have been advised to brace for further inflationary pressure, with rising fuel costs likely to affect multiple sectors of the economy in the coming weeks.