Kerosene oil prices in Pakistan have risen sharply by Rs70.73 per litre, taking the new rate to Rs428.74 from Saturday, March 21, according to an official notification.
This is the third increase in March, as global oil markets continue to fluctuate due to tensions in the Middle East involving Iran, Israel and the United States. Since the start of the month, kerosene prices have surged by nearly 127%, making it one of the steepest hikes among petroleum products in the country.
Earlier, on March 7, the price jumped by Rs130.08 per litre, moving from Rs188.73 to Rs318.81 amid a spike in global oil prices. A second increase of Rs39.20 followed on March 14, pushing the rate to Rs358.01 per litre before the latest hike.
Officials attributed the repeated increases to supply disruptions in the Strait of Hormuz and rising international crude oil prices. They said domestic fuel prices are being adjusted in line with global market trends to maintain supply.
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Meanwhile, Prime Minister Shehbaz Sharif announced that petrol and diesel prices will remain unchanged for the coming week, despite calls for further increases ahead of Eid ul Fitr. In his address to the nation, he said the ongoing Middle East conflict has “shaken the global economy as well as peace and stability.”
He highlighted the economic pressure caused by rising oil prices, noting that crude oil has climbed from $72 to $158 per barrel in recent weeks. He also extended Eid ul Fitr greetings and urged unity during this period of economic uncertainty.
The latest price revision comes as global oil markets remain unsettled and local pricing policies continue to adjust. Authorities maintain that the current pricing structure is necessary to ensure steady supply and meet operational costs.