Pakistan govt hikes petrol, diesel prices by Rs26.77 per litre

Pakistan government has announced an increase in the prices of petrol and high-speed diesel (HSD) by Rs26.77 for the next week.

The new rates will come into effect from April 25, according to a notification from Ministry of Energy (Petroleum Division).

With this increase, the price of HSD has risen to Rs380.19 per liter, up from Rs353.42, while petrol now costs Rs393.35 per liter, compared to Rs366.58 previously.

In a statement, Petroleum Minister Ali Pervaiz Malik said oil prices had risen once again due to regional tensions.

“Due to the mounting pressure from rising oil prices and agreements with global partners, the government is compelled to pass on the burden of price hikes to the public,” he said.

The minister emphasized that the government has absorbed the increase in global oil prices to the extent possible, and both the federal and provincial governments have provided a historic relief package to the public.

“We hope for progress towards regional peace, so that the public can be relieved from the high prices of petroleum products,” the minister added.

Last week, Prime Minister Shehbaz Sharif announced a Rs32.12 per litre reduction in the price of diesel, lowering it from Rs385.54 to Rs353.43.

In a statement from Turkiye, where he is on an official visit, the prime minister said the government would ensure the diesel price reduction is passed on to the people as swiftly as possible, underlining its commitment to providing economic relief.

Despite the diesel price cut, the prime minister did not adjust petrol or liquefied natural gas (LNG) prices.