Significant Price Increase Announced
The Pakistani government has announced a substantial increase in petrol prices, raising them by 55 Pakistani rupees per litre as of March 11, 2026. This adjustment brings the ex-depot price of petrol to 321.17 rupees per litre, up from 266.17 rupees per litre, marking an increase of approximately 17 percent.
Diesel Prices Also Rise
In addition to petrol, the ex-depot price of high-speed diesel has been fixed at 335.86 rupees per litre, which represents a 20 percent increase from the previous price of 280.86 rupees per litre. This surge in fuel costs comes amid a backdrop of rising prices globally, driven by geopolitical tensions.
Global Context of Rising Fuel Prices
Since the onset of attacks on Iran by the US and Israel on February 28, at least 85 countries have reported increases in petrol prices. In the United States, the average price of regular petrol has jumped from $2.94 per gallon in February to $3.58, reflecting a 20 percent rise.
Vietnam has experienced the most significant increase, with petrol prices soaring nearly 50 percent, from $0.75 per litre to $1.13. Meanwhile, in India, petrol prices in Delhi remain at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre.
Local Reactions and Speculations
In Pakistan, the rising prices have led to public concern about potential shortages. Dhruv Ruparel, a local observer, noted, “There is a shortage of LPG, and people are speculating that there’s a shortage of petrol and diesel as well.” This sentiment reflects broader anxieties about fuel availability amid escalating prices.
Looking ahead, analysts expect crude oil prices to stabilize around $100 per barrel. However, the exact impact of ongoing geopolitical tensions on future petrol prices remains unclear. Details remain unconfirmed.
As Asia relies heavily on the Strait of Hormuz for oil and gas deliveries, the region’s fuel supply chain is under significant strain due to the current conflict, which has effectively closed this critical route since the war began.
