Significant Price Hike in Pakistan
The Pakistani government announced on March 11, 2026, a substantial increase in petrol prices, raising them by 55 Pakistani rupees per litre. This adjustment reflects a broader trend of rising fuel costs that has affected numerous countries worldwide.
Immediate Circumstances
The ex-depot price of petrol has been revised to 321.17 Pakistani 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.
This price surge in Pakistan is part of a larger pattern, 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 petrol rose from $2.94 per gallon in February to $3.58, reflecting a 20 percent increase. Vietnam experienced the highest petrol price increase, with costs soaring nearly 50 percent from $0.75 to $1.13 per litre.
In India, petrol prices remain at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre. The rising costs are not limited to petrol; domestic LPG prices in India have also increased by about ₹60 for a 14.2-kg cylinder, bringing the price to around ₹913.
Reactions and Speculations
Local experts have begun to voice concerns regarding potential shortages. Dhruv Ruparel noted, “There is a shortage of LPG, and people are speculating that there’s a shortage of petrol and diesel as well.” Furthermore, there are expectations that crude oil prices may stabilize around $100 per barrel.
Geopolitical Factors
Asia’s reliance on the Strait of Hormuz for oil and gas deliveries has heightened since the conflict began, contributing to the volatility in fuel prices. The situation remains fluid, and details remain unconfirmed regarding the long-term impact of these geopolitical tensions on petrol prices.
