ISLAMABAD (MNN); The federal government has increased the prices of petroleum products following a review of international oil prices, citing continued volatility in global energy markets triggered by the escalating conflict between Iran and the United States.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs5.44 per litre, taking the new price to Rs316.15 per litre, while the price of high-speed diesel (HSD) has been raised by Rs31.05 per litre, bringing it to Rs354.35 per litre.
The revised prices will remain effective from July 18 to July 20, as part of the government’s newly introduced mechanism for more frequent adjustments in petroleum prices in line with fluctuations in the international market.
Officials said the increase reflects the sharp rise in global crude oil prices following renewed military tensions between Iran and the United States, which have unsettled international energy markets and heightened concerns over fuel supplies.
Energy analysts say the prolonged Iran-US confrontation stems from disputes over Iran’s nuclear programme, ballistic missile development, regional influence, the presence of US forces in the Middle East and growing tensions around the strategically vital Strait of Hormuz, through which a significant portion of the world’s oil exports passes.
The latest escalation, including military strikes and security incidents across the Gulf region, has intensified fears of disruptions to global oil shipments, pushing international crude prices upward.
As a net importer of petroleum products, Pakistan remains highly exposed to fluctuations in global oil prices. Experts warn that if hostilities intensify further or shipping through the Strait of Hormuz is disrupted, international crude prices could rise sharply, placing additional pressure on domestic fuel prices, transportation costs and inflation.
