On March 11, 2026, the Pakistani government announced a substantial increase in petrol prices, raising them by 55 Pakistani rupees per litre. This adjustment comes as part of a broader trend affecting fuel prices globally, particularly in the wake of recent geopolitical tensions.

Immediate Circumstances

The ex-depot price of petrol was revised from 266.17 to 321.17 Pakistani rupees per litre, marking an increase of approximately 17 percent. Additionally, the ex-depot price of high-speed diesel was set at 335.86 Pakistani rupees per litre, reflecting a 20 percent rise from the previous price of 280.86 rupees.

This increase in Pakistan is not an isolated incident. Since the onset of attacks on Iran by the US and Israel on February 28, at least 85 countries have reported similar increases in petrol prices. In the United States, the average price of petrol surged from $2.94 per gallon in February to $3.58, representing a 20 percent hike. Vietnam experienced the most dramatic increase, with petrol prices soaring nearly 50 percent from $0.75 to $1.13 per litre.

In India, petrol prices remain at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre. The rising costs have prompted concerns among consumers and industry experts alike, as domestic LPG prices also saw an increase of about ₹60 per 14.2-kg cylinder, bringing the price in Delhi to around ₹913.

As the price of petrol rises, consumers are expressing anxiety over potential shortages. Dhruv Ruparel noted, “There is a shortage of LPG, and people are speculating that there’s a shortage of petrol and diesel as well.” This sentiment reflects the growing apprehension regarding fuel availability amidst rising costs.

Experts predict that crude oil prices may stabilize around $100 per barrel, but the exact impact of ongoing geopolitical tensions on future petrol prices remains unclear. Details remain unconfirmed.

The recent increase in petrol prices in Pakistan highlights a significant trend affecting fuel costs globally, driven by geopolitical factors and market dynamics. As consumers brace for higher prices, the situation warrants close monitoring in the coming weeks.

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