ISLAMABAD: Amid tensions between Iran and the United States and a blockade of the Strait of Hormuz, the government on Thursday raised fuel prices for one week. The price of high-speed diesel (HSD) has gone up by Rs19.39 per litre, while petrol has increased by Rs6.51 per litre.
According to a notification from the Petroleum Division, HSD will now cost Rs399.58 per litre, compared to Rs380.19 earlier. Petrol has been fixed at Rs399.86 per litre, up from Rs393.35.
High-speed diesel is mainly used in transport and agriculture. With the sowing season in progress, the increase is likely to put additional pressure on farmers, as input costs are already rising. Fertiliser has also become more expensive due to higher transportation costs.
Petrol is mostly used by motorcycles and cars. The prime minister had earlier announced a subsidy of Rs 100 per litre for motorists. Petrol also serves as an alternative to CNG, especially in Punjab where local gas supply for CNG stations is limited, leading to higher petrol demand.
At the same time, global tensions have affected oil supply routes, particularly through the Strait of Hormuz, which carries about 20 percent of the world’s oil shipments. Concerns over supply disruptions have pushed international oil prices higher, while some Gulf countries are also facing logistical issues.
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In a separate statement, the Petroleum Division dismissed reports about petrol pump closures from May 1. The Oil Companies Advisory Council also rejected rumours on social media about a five day shutdown of fuel stations.
The statement said Pakistan currently has reserves of 28 days for petrol and 34 days for diesel. It assured that petrol pumps will remain open and fuel supply will continue without interruption. The public was advised to ignore “negative publicity on social media by unscrupulous elements.”
A spokesperson for the Oil and Gas Regulatory Authority also denied reports of any strike by the Petroleum Dealers Association, calling such claims false. “No such strike has been announced by any petroleum-related association,” the spokesperson said, adding that people should rely on verified official information. “This clarification is issued in the public interest.”