Pakistan may soon see a sharp jump in fuel prices, with petrol likely to increase by as much as Rs100 per litre, according to recent media reports.
The federal government is said to have decided to shift the impact of rising international oil prices onto consumers. This comes at a time when global crude markets remain unstable, and the country is facing growing financial pressure, especially in managing energy subsidies.
Reports indicate that petrol is currently being sold at a price that is over Rs100 per litre lower than its actual import cost. Diesel is also heavily underpriced, with a gap of more than Rs200 per litre compared to its import-based value.
Experts believe the expected increase is linked to changes in global oil prices, particularly benchmarks like Brent crude, along with the weakening of the local currency and high import expenses.
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This move also aligns with Pakistan’s commitments to international lenders, including the IMF, which has consistently urged the government to reduce fuel subsidies.
An official announcement on the revised fuel prices is expected within the next few days. If implemented, the hike could lead to higher inflation, affecting sectors such as transport and food.