Fuel prices in Pakistan have risen sharply after the government’s latest adjustment, with petrol now costing around $1.15 per litre, according to sources in the Ministry of Petroleum Pakistan.
The latest figures show that petrol is currently more expensive in Pakistan than in several neighbouring South Asian countries.
According to the ministry’s figures, petrol in India costs around $1.03 per litre, slightly lower than the price in Pakistan.
Fuel prices in other regional markets are even lower. Petrol in Sri Lanka costs around 94 cents per litre, while in Bangladesh it is around 95 cents per litre.
The comparison shows significant differences in fuel prices across the region, highlighting the impact of domestic taxes and currency fluctuations on energy prices in Pakistan.
Earlier on March 6, the Pakistani government announced a major increase in petroleum prices. Petrol and diesel prices were increased by about Rs55 per litre in response to rising global oil prices and economic pressures.
The increase has raised concerns among citizens and businesses, as high fuel prices generally increase transportation and production costs, which ultimately affect consumer prices across the economy.
Economists say petrol prices in Pakistan are closely linked to international crude oil prices and the exchange rate of the Pakistani rupee. Any major change in these factors could significantly affect domestic fuel prices.
As global energy markets continue to fluctuate, policymakers in Pakistan are expected to keep a close eye on international oil trends when deciding on future fuel price adjustments.
