Wednesday, 25 March 2026
Wednesday, 25 March 2026
Pakistani citizens rushed to petrol pumps on Friday, concerned over oil shortage, as the government hiked consumer prices for diesel and petrol by about 20%, citing higher global crude prices triggered by the US-Israel war with Iran.
In a televised video message, Petroleum Minister Ali Pervaiz Malik announced a historically large 55-rupee ($0.20 a liter) increase to 321.17 rupees for diesel and 335.86 rupees for petrol.
“We have taken this decision under compulsion because of a sharp surge in petroleum prices globally,” the minister said. The decision is likely to ripple through to higher inflation and hit Pakistan's impoverished population", the minister said.
Fuel stations in major cities like Lahore and Karachi had long lines of people waiting to fill up.
Queuing at a Lahore station, business owner Imran Hussain said he wanted to be prepared in case of a shortage. “I have been waiting for my turn for the last 70 minutes,” he said.
Prime Minister Shehbaz Sharif on Friday ordered strict action against any disruption by hoarders of petroleum products in the country as officials scrambled to offset any impact of the ongoing Iran conflict on the energy supplies.
The Prime Minister said that any petrol pump involved in the illegal practice of creating an artificial shortage should be immediately closed, its licence cancelled, and legal action taken against it.
The premier also instructed the petroleum minister to visit the provinces and, in coordination with the provincial governments, prepare a strategy and plan for conserving petroleum products and ensuring their uninterrupted supply to the public.
“We have sufficient petrol reserves. But we are planning to stretch them because we don’t know when the Middle East crises will end,” said the petroleum minister.
Pakistan imports oil mainly from Saudi Arabia and the UAE through the Strait of Hormuz.
The government will reassess prices weekly, the oil minister said.
