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    <title>Business Recorder - News</title>
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    <copyright>Copyright 2026</copyright>
    <pubDate>Thu, 13 Aug 2026 07:39:00 +0500</pubDate>
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      <title>Hike in fuel prices to up inflation in Pakistan</title>
      <link>https://www.brecorder.com/news/9684/hike-in-fuel-prices-to-up-inflation-in-pakistan</link>
      <description>&lt;p class="MsoPlainText"&gt;&lt;img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/april/inflation_400.jpg" width="400" height="300" /&gt;ISLAMABAD: Pakistan increased fuel prices by up to 13 percent, reflecting the rise in global crude oil prices, the Oil and Gas Regulatory Authority (OGRA) said on Friday, in a move that could create fresh problems for the fragile government.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The coalition led by President Asif Ali Zardari halved the increase in petroleum prices last month to mollify a key partner which quit the government in protest over the last fuel price hike in January.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;That increase was reversed altogether to woo the Muttahida Qaumi Movement (MQM), the third-biggest party in the coalition.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The latest move announced late on Thursday saw the price of petrol (gasoline) raised to 83.56 rupees ($0.98) a litre from 76.58 rupees, up 9.1 percent, and light speed diesel to 78.98 a litre from 69.91 rupees, up 12.97 percent, the OGRA said in a statement.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;International benchmark Brent crude for May was at $117.16 a barrel on Friday, after hitting the highest close the previous day since August 2008 and up 23.9 percent       for the first quarter.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;The Consumer Price Index (CPI), a key reflection of inflation, rose 12.91 percent in February from the same time, and the rise in petrol prices is likely to increase inflation further.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Pakistan, which imports about 80 percent of its oil, spent $3.99 billion on the import of 6.9 million tonnes of petroleum products and $2.45 billion on 4.3 million tonnes of crude oil in the first seven months of the 2010-11 (July-June) financial year.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt;Pakistan linked its domestic fuel prices to global oil prices in 2008.&lt;/p&gt;
&lt;p class="MsoPlainText"&gt; &lt;/p&gt;
&lt;p&gt;&lt;center&gt;&lt;b&gt;&lt;i&gt;Copyright Reuters, 2011&lt;/i&gt;&lt;/b&gt;&lt;i&gt; &lt;/i&gt;&lt;br /&gt;&lt;/center&gt;&lt;/p&gt;
&lt;p&gt; &lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/april/inflation_400.jpg" width="400" height="300" />ISLAMABAD: Pakistan increased fuel prices by up to 13 percent, reflecting the rise in global crude oil prices, the Oil and Gas Regulatory Authority (OGRA) said on Friday, in a move that could create fresh problems for the fragile government.</p>
<p class="MsoPlainText">The coalition led by President Asif Ali Zardari halved the increase in petroleum prices last month to mollify a key partner which quit the government in protest over the last fuel price hike in January.</p>
<p class="MsoPlainText">That increase was reversed altogether to woo the Muttahida Qaumi Movement (MQM), the third-biggest party in the coalition.</p>
<p class="MsoPlainText">The latest move announced late on Thursday saw the price of petrol (gasoline) raised to 83.56 rupees ($0.98) a litre from 76.58 rupees, up 9.1 percent, and light speed diesel to 78.98 a litre from 69.91 rupees, up 12.97 percent, the OGRA said in a statement.</p>
<p class="MsoPlainText">International benchmark Brent crude for May was at $117.16 a barrel on Friday, after hitting the highest close the previous day since August 2008 and up 23.9 percent       for the first quarter.</p>
<p class="MsoPlainText">The Consumer Price Index (CPI), a key reflection of inflation, rose 12.91 percent in February from the same time, and the rise in petrol prices is likely to increase inflation further.</p>
<p class="MsoPlainText">Pakistan, which imports about 80 percent of its oil, spent $3.99 billion on the import of 6.9 million tonnes of petroleum products and $2.45 billion on 4.3 million tonnes of crude oil in the first seven months of the 2010-11 (July-June) financial year.</p>
<p class="MsoPlainText">Pakistan linked its domestic fuel prices to global oil prices in 2008.</p>
<p class="MsoPlainText"> </p>
<p><center><b><i>Copyright Reuters, 2011</i></b><i> </i><br /></center></p>
<p> </p>
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      <guid>https://www.brecorder.com/news/9684</guid>
      <pubDate>Fri, 01 Apr 2011 12:26:20 +0500</pubDate>
      <author>none@none.com (Fakir Syed Iqtidaruddin)</author>
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