ISLAMABAD: The government has once again raised the prices of petroleum products this week, bringing petrol in Pakistan to Rs 414.78 per liter, the highest in the region.
The increase comes amid a potential global energy crisis caused by the ongoing conflict in Iran and the possible closure of the Strait of Hormuz, which is affecting energy supplies worldwide, including Pakistan.
In light of this situation, the government has changed its pricing schedule, now announcing petroleum product prices on a weekly basis instead of every 15 days. Following the most recent increase last Friday, the price of petrol has surged, placing further economic pressure on the public.
When compared with other countries in the region, Pakistan’s petrol prices are considerably higher. In Sri Lanka, petrol is sold at approximately Rs 370 per liter, while in China the price is around Rs 360 per liter. In India, petrol costs roughly Rs 302 per liter, and in Bangladesh it is available for about Rs 288 per liter. Petrol prices in Afghanistan and the Maldives are also lower than in Pakistan. Meanwhile, in Iran, a major oil-producing country, petrol is sold at an extremely low price of Rs 6 per liter.
The continuous rise in petroleum product prices in Pakistan is creating significant economic strain for citizens, further reducing purchasing power and placing additional pressure on household budgets. The situation highlights the broader impact of global energy instability on domestic markets and underscores the challenges faced by ordinary consumers in managing daily expenses.
