Petrol Prices Surge in Pakistan
On March 11, 2026, the Pakistani government announced a significant increase in petrol prices, raising them by 55 Pakistani rupees per litre. This adjustment brings the ex-depot price of petrol to 321.17 rupees per litre, up from 266.17 rupees per litre, marking an increase of approximately 17 percent.
In addition to petrol, the price of high-speed diesel has also seen a notable rise, now set at 335.86 rupees per litre, which is a 20 percent increase from the previous price of 280.86 rupees per litre. These changes come in the wake of escalating geopolitical tensions, particularly following the recent attacks on Iran by the US and Israel that began on February 28.
Since those attacks, at least 85 countries have reported increases in petrol prices, indicating a widespread impact on global fuel markets. In the United States, for instance, the average price of regular petrol has jumped from $2.94 in February to $3.58, reflecting a 20 percent increase.
In Asia, the situation is particularly acute. Vietnam has experienced the highest petrol price increase, with prices soaring nearly 50 percent from $0.75 per litre to $1.13. Meanwhile, in India, petrol prices in Delhi remain at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre.
The rising prices have raised concerns among consumers and industry experts alike. 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 underscores the anxiety surrounding fuel availability in the region.
Moreover, domestic LPG prices in India have also increased, with a rise of about ₹60 per 14.2-kg cylinder, bringing the price to around ₹913 in Delhi. Such increases in fuel costs are likely to have a cascading effect on various sectors, including transportation and goods pricing.
Analysts are closely monitoring the situation, with expectations that crude oil prices may stabilize around $100 per barrel. However, the exact impact of geopolitical tensions on future petrol prices remains unclear. Details remain unconfirmed.
Asia’s heavy reliance on the Strait of Hormuz for oil and gas deliveries has made it particularly vulnerable to disruptions, especially given the current geopolitical climate. The strait has been effectively closed since the onset of the conflict, exacerbating supply concerns.
As the situation develops, officials and consumers alike are bracing for further changes in fuel pricing, with the potential for additional increases in the coming weeks.
