Fuel Prices Surge in Pakistan Despite Global Oil Price Drop

Pakistanis are facing another wave of financial pressure as fuel prices continue to rise, adding to the burden of already high inflation. Over the past 12 days, both petrol and diesel prices have increased sharply, even though global oil prices have recently declined.

Fuel Prices Climb in Just 12 Days

On July 17, the federal government announced that petroleum prices would be revised on a daily basis.

At the time, fuel prices stood at:

Petrol: PKR 310.71 per liter
Diesel: PKR 323.03 per liter

As of July 29, prices have reached:

Petrol: PKR 335.81 per liter
Diesel: PKR 388.38 per liter

In just 12 days:

Petrol has increased by PKR 25.10 per liter.
Diesel has increased by PKR 65.35 per liter.

Only Minor Relief for Petrol Consumers

Despite the overall upward trend, petrol prices were reduced only twice during the 12-day period:

July 21: Reduced by PKR 0.35 per liter.
July 27: Reduced by PKR 1.00 per liter.

Meanwhile, diesel prices have not been reduced at all since July 17.

Global Oil Prices Have Started Falling

While domestic fuel prices continued to move higher, international oil markets followed a different direction.

Between July 25 and July 28, global petroleum prices recorded a significant decline, falling by up to 12% in just three days.

However, this decline has not yet translated into lower fuel prices for consumers in Pakistan.

Impact on Consumers

Higher fuel prices increase transportation and logistics costs, which can eventually raise the prices of everyday goods and services. For households already dealing with inflation, the latest increases add further pressure to monthly expenses.

Conclusion

Fuel prices in Pakistan have climbed sharply in less than two weeks, with diesel increasing by PKR 65.35 per liter and petrol rising by PKR 25.10 per liter. Although global oil prices have recently dropped, consumers are still waiting to see whether those reductions will be reflected in domestic fuel prices.