Significant Price Increase Announced
The Pakistani government announced on March 11, 2026, a substantial increase in petrol prices, raising them by 55 Pakistani rupees per litre. This adjustment brings the ex-depot price of petrol to 321.17 rupees per litre, up from 266.17 rupees, marking an increase of approximately 17 percent.
Additionally, the ex-depot price of high-speed diesel has been set at 335.86 rupees per litre, which is a 20 percent rise from the previous price of 280.86 rupees.
Wider Context of Price Increases
This price hike in Pakistan is part of a larger trend, with at least 85 countries reporting increases in petrol prices since the onset of attacks on Iran by the US and Israel on February 28. In the United States, the average price of regular petrol has risen from $2.94 in February to $3.58, reflecting a 20 percent increase.
Vietnam has experienced the most significant rise, with petrol prices soaring nearly 50 percent, from $0.75 per litre to $1.13.
Regional Impacts and Reactions
In India, petrol in Delhi remains priced at ₹94.77 per litre, while diesel is at ₹87.67 per litre. The increase in fuel prices has led to concerns about potential shortages, as noted by Dhruv Ruparel, who stated, “There is a shortage of LPG, and people are speculating that there’s a shortage of petrol and diesel as well.”
Domestic LPG prices have also seen an increase, with a rise of about ₹60 per 14.2-kg cylinder, bringing the price in Delhi to around ₹913.
Geopolitical Factors at Play
Asia’s dependence on the Strait of Hormuz for oil and gas delivery has become increasingly problematic since the start of the conflict, leading to heightened concerns about fuel availability and pricing. Experts predict crude oil prices may stabilize around $100 per barrel, further influencing local markets.
Details remain unconfirmed regarding the exact impact of these geopolitical tensions on future petrol prices, leaving consumers and analysts alike watching closely for further developments.
