ISLAMABAD: The federal government on Friday announced another sharp increase in petroleum prices, pushing both petrol and high-speed diesel above Rs. 414 per litre, according to local media reports.
Under the latest revision, petrol prices were increased by Rs. 14.92 per litre, taking the new rate to Rs. 414.78 per litre. High-speed diesel also saw a rise of Rs. 15 per litre, bringing its updated price to Rs. 414.58 per litre. An official notification confirming the new prices was issued shortly after the announcement.
This marks the fourth consecutive fuel price hike linked to regional tensions surrounding the ongoing Iran conflict. Earlier, on May 1, petrol prices had already been raised by Rs. 6.51 per litre, while diesel prices increased by Rs. 19.39 per litre. Following that adjustment, petrol had reached Rs. 399.86 per litre and diesel Rs. 399.58 per litre nationwide.
Analysts say the repeated increases are being driven by instability in international oil markets and mounting import costs. Economists also caution that higher fuel prices could intensify inflationary pressure across the country, affecting transport fares, food costs, and other essential commodities.
Public concern continues to grow as fuel prices remain at record levels, adding to the financial strain on households and businesses alike. Experts warn that if regional tensions persist, the impact on Pakistan’s economy and cost of living may become even more severe.
Meanwhile, Pakistan has remained actively engaged in diplomatic efforts aimed at reducing tensions between Iran and the United States. Recent visits by delegations from both countries, including multiple trips to Pakistan by Iranian Foreign Minister Abbas Araqchi, have focused on discussions related to regional peace and stability.
