Pakistan Hikes Fuel Prices by Over 50 Percent Amid Oil Surge
Pakistan raised fuel prices by over 50 percent on Thursday as global oil costs surged. The government announced targeted subsidies to help low-income citizens.
Pakistan has announced a sharp increase in consumer fuel prices, raising the cost of diesel and petrol by more than 50%. This marks the second major adjustment in less than a month as global energy markets react to the escalating conflict in the Middle East involving the United States, Israel, and Iran.
Under the new pricing structure, the cost of diesel has surged by over 55% to 520.35 rupees ($1.88) per litre. Similarly, petrol prices have been adjusted upward by approximately 55%, reaching 458.40 rupees per litre. These changes follow a 20% increase implemented last month, a move that is expected to ripple through the economy and significantly impact the country's impoverished population through higher inflation.
