ISLAMABAD:
Amid a blockade of the Strait of Hormuz due to the Iran-US conflict, the government on Thursday raised the price of high-speed diesel (HSD) by Rs 19.39 per liter and the price of petrol by Rs 6.51 per liter for a week.
According to a notification issued by the Petroleum Division, HSD will now be sold at Rs 399.58 per litre, up from Rs 380.19, while petrol will be available at Rs 399.86 per liter compared to the earlier rate of Rs 393.35, reflecting an increase of Rs 6.51 per litre.
High-speed diesel is widely used in the transport and agricultural sectors. With the sowing season underway, the sharp rise in prices is expected to negatively affect the agricultural sector, where input costs are already high. Fertilizer prices have also increased due to increased transportation costs.
Gasoline is primarily used by motorcycles and cars. The Prime Minister had earlier announced a subsidy of Rs 100 per liter for motorists. Petrol also serves as an alternative to compressed natural gas (CNG), but Punjab lacks indigenous gas for CNG outlets, increasing the demand for petrol.
Meanwhile, amid global tensions, reports emerged of oil supply disruptions due to the situation in the Strait of Hormuz, which handles about 20% of global oil shipments. Global oil prices have risen amid concerns over supply shortages, while several Gulf countries have also faced logistical challenges.
In a separate statement, the Petroleum Division denied reports of petrol pump closures from May 1. The Oil Companies Advisory Council (OCAC) also dismissed rumors circulating on social media about a five-day closure of filling stations.
Pakistan currently has 28 days of petrol and 34 days of diesel stocks, according to the statement. It stated that all petrol pumps will remain operational and that fuel will continue to be supplied to consumers. The public was urged to ignore “negative publicity on social media from unscrupulous elements.”
A spokesperson for the Oil and Gas Regulatory Authority (Ogra) also dismissed claims of an alleged strike by the Petroleum Dealers Association, calling the reports false and misleading. “No such strike has been announced by any petroleum-related association,” the spokesman said, adding that the public should only rely on verified official sources. “This clarification is issued in the public interest.”
