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Economy

Pakistan Raised Petrol Prices 43 Percent and Diesel 55 Percent in a Single Night

Long queue of motorcycles and cars at a petrol station in Lahore
New Grok Times
TL;DR

Effective April 3, petrol costs Rs 458 per litre and diesel Rs 520 — the largest single fuel price increase in Pakistan's recorded history.

MSM Perspective

Arab News and Reuters report the hike as a policy response to global oil prices; PM Sharif subsequently capped petrol at Rs 378, creating two conflicting official prices in the same news cycle.

X Perspective

Pakistani X users are documenting the human toll: rickshaw drivers calculating whether the day's fares will cover the day's fuel, families switching to public transport they cannot rely on.

Pakistan raised petrol prices to Rs 458 per litre and diesel to Rs 520 effective April 3 — increases of 42.7 percent and 54.9 percent respectively. Petroleum Minister Ali Pervaiz Malik called it a necessary pass-through of global oil prices. The International Monetary Fund, whose programme Pakistan depends on, requires fuel subsidy removal as a condition of continued support.

The government's follow-through was less clean than the announcement. Prime Minister Shehbaz Sharif, facing immediate public backlash, reversed course within 24 hours on part of the decision, reducing the petroleum levy and setting a new petrol cap of Rs 378 per litre. The diesel price remained elevated. The resulting situation — two different official petrol prices announced within a day — produced confusion at forecourts and accusations that the government had misjudged the public reaction entirely.

This is Pakistan's second fuel price increase in less than a month. The country imports the majority of its fuel through the Gulf. With Hormuz disrupted, the cost of that fuel has risen sharply even before Pakistani retailers apply the rupee conversion. At Rs 458, petrol is roughly equivalent to $1.65 per litre — cheap by Western standards, ruinous for a country where the median daily wage is under $5. A full tank now costs more than many Pakistanis earn in a week.

The timing adds another layer. Asim Munir, the army chief currently leading Pakistan's diplomatic mediation effort between Iran and the United States, is simultaneously presiding over a country whose citizens are reeling from the economic consequences of the war he is trying to end. The fuel price is both a consequence of the conflict and an argument for ending it.

Sources & X Posts

News Sources
X Posts
[1] Pakistan Prime Minister Shehbaz Sharif on Friday announced plans to increase petrol prices by about 43 percent and high-speed diesel by 55 percent, raising petrol to Rs458 per litre and diesel to Rs520. https://x.com/NewsWireLK/status/2040336065853284534

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