Islamabad( The COW News Digital )The Government of Pakistan has officially announced a significant increase in the prices of petroleum products, citing rising global oil prices and fiscal adjustments, including a revised carbon levy.
According to the latest notification issued late Monday night, the price of petrol has been increased by Rs8.36 per liter, and high-speed diesel (HSD) has gone up by Rs10.39 per liter.
Following the revision, petrol will now be sold at Rs266.79 per liter, while diesel will cost Rs272.98 per liter. The new prices have been implemented with immediate effect.
Sources within the Petroleum Division have confirmed that the hike includes the imposition of a Rs2.50 carbon levy per liter—an effort to increase government revenue and meet international environmental obligations.
Furthermore, sources revealed that the petroleum levy on petrol has been adjusted down to Rs75.52 per liter, while the levy on high-speed diesel has been set at Rs74.51 per liter.
The move is expected to put additional pressure on consumers already grappling with inflation and rising costs of living. Transportation and logistics sectors are likely to be the hardest hit, with ripple effects expected on the prices of essential commodities in the coming weeks.
The Ministry of Finance defended the decision, stating that global crude oil prices had surged and adjustments were necessary to maintain economic stability and meet IMF revenue targets. Officials added that the pricing formula is revised biweekly based on international market trends and exchange rate fluctuations.
However, the price hike has sparked criticism from opposition parties and civil society groups, who argue that the government should provide relief to the public instead of burdening them further. Protest demonstrations are already being planned by several trade and transport associations across major cities.
This is the third fuel price adjustment in the past two months, and analysts warn that further hikes are likely if international oil prices continue to rise or if the government increases levies again.
With monsoon season approaching, citizens have expressed concern over the rising costs of commuting and goods transportation, urging the government to reconsider its pricing strategy in light of economic hardship.
