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Pakistanis face unprecedented fuel price rise of up to 54% as global oil price spikes
Economists warned the increase will raise food and transport costs as the government called the hikes necessary and unavoidable.
- On Friday, Pakistanis faced record fuel price increases as petrol and diesel prices rose up to 54%, driven by the war in the Middle East that has caused global oil prices to surge.
- Regional instability and the closure of the Strait of Hormuz forced Pakistan to rely on alternate routes, prompting Petroleum Minister Ali Pervaiz Malik to acknowledge the necessity of adjustments amid record global oil prices.
- Petrol prices rose by 137 rupees per liter while diesel jumped about 54.9% overnight; Malik called the adjustments "necessary and unavoidable" as diesel in international markets climbed above $250 per barrel.
- Economists warn the hike will push up food prices and living costs for a cash-strapped nation, while the Pakistan Business Forum termed the government's levy increase "unjustified" amid extraordinary economic conditions.
- Beginning Saturday, Interior Minister Mohsin Naqvi announced free public transport in Islamabad for 30 days, while the government plans to subsidize fuel for motorcyclists, who account for nearly 78% of vehicles.
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Times of IndiaReposted by 
The Economic Times
The Economic TimesPakistan faces fuel shock as up to 54% fuel price hike leaves wallets running on empty
Pakistanis are currently facing an unprecedented spike in fuel prices, with petrol and diesel rates soaring due to escalating global oil costs attributed to the Middle Eastern conflict. This situation is placing severe pressure on an already delicate economy, impacting families across the nation. The government recognizes the necessity of these price adjustments as a reflection of international market trends.
·India
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Associated Press News+5 Reposted by 5 other sources
Pakistanis face unprecedented fuel price rise of up to 54% as global oil price spikes
Pakistanis are facing record fuel price increases as petrol and diesel prices surge by up to 54%. The rise is driven by the Middle East conflict, which has caused global oil prices to soar.
·United States
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Coverage Details
Total News Sources11
Leaning Left5Leaning Right3Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 20%
R 30%
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