Pakistan is among the countries experiencing significant petrol price increases following heightened tensions in the Gulf region and the ongoing conflict involving Iran. Rising crude prices and global supply disruptions have pushed fuel costs higher worldwide, impacting oil-importing nations like Pakistan.
Data from global fuel price tracking shows that since February 23, Pakistan’s petrol prices have risen from $0.92 per litre to $1.15 per litre, reflecting a 24.5% increase. This places Pakistan among the top ten countries that have seen the sharpest fuel price surges since the Iran war began.
| Rank | Country/Territory | Feb 23 (USD) | Mar 11 (USD) | Price Increase |
|---|---|---|---|---|
| 1 | Cambodia | $1.11 | $1.32 | 67.81% |
| 2 | Vietnam | $0.75 | $1.13 | 49.73% |
| 3 | Nigeria | $0.59 | $0.80 | 35.02% |
| 4 | Laos | $1.34 | $1.78 | 32.94% |
| 5 | Canada | $1.16 | $1.30 | 28.36% |
| 6 | Pakistan | $0.92 | $1.15 | 24.49% |
| 7 | Maldives | $0.87 | $1.04 | 18.54% |
| 8 | Australia | $1.11 | $1.31 | 18.23% |
| 9 | United States | $0.87 | $1.01 | 16.55% |
| 10 | Singapore | $2.16 | $2.50 | 15.69% |
The surge is largely driven by rising crude prices, which have reached unprecedented levels due to instability in the Middle East, particularly disruptions in the Strait of Hormuz, a key transit route for global oil trade.
Pakistan’s government has taken measures to mitigate the impact on consumers by maintaining petroleum levies on petrol and diesel, while offering subsidies to oil marketing companies to prevent retail prices from rising sharply. Nevertheless, analysts warn that continued volatility in the global oil market could sustain pressure on domestic fuel costs.
The situation highlights Pakistan’s vulnerability as an oil-importing country and underscores the broader economic challenges posed by global energy market disruptions.
