Significant Price Increase Announced
The Pakistani government announced a substantial increase in petrol prices on March 11, 2026, raising the cost by 55 Pakistani rupees per litre. This adjustment brings the ex-depot price of petrol to 321.17 Pakistani rupees per litre, up from 266.17 rupees, marking an increase of approximately 17 percent.
Context of the Price Hike
In addition to petrol, the ex-depot price of high-speed diesel was also revised, now set at 335.86 Pakistani rupees per litre, which is a 20 percent increase from the previous price of 280.86 rupees. This surge in fuel prices comes as at least 85 countries have reported similar increases since the onset of military actions in Iran by the US and Israel on February 28.
Global Trends Influencing Local Prices
The impact of these geopolitical tensions is evident worldwide, with the average price of petrol in the United States rising from $2.94 in February to $3.58 per gallon, reflecting a 20 percent increase. Vietnam has experienced the highest petrol price increase, with costs nearly doubling from $0.75 to $1.13 per litre.
Regional Implications
In India, petrol prices remain steady at ₹94.77 per litre, while diesel is priced at ₹87.67 per litre. However, domestic LPG prices have also seen a hike, with an increase of about ₹60 per 14.2-kg cylinder, bringing the price in Delhi to around ₹913.
Public Sentiment and Expert Opinions
Public reactions to the price hikes have been mixed, with some expressing concerns 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.” Additionally, experts predict crude oil prices may stabilize around $100 per barrel.
Wider Energy Market Concerns
Asia’s reliance on the Strait of Hormuz for oil and gas delivery has intensified concerns, especially as the strait has been effectively closed since the start of the conflict. This situation raises questions about the stability of energy supplies in the region.
As the situation evolves, the exact impact of ongoing geopolitical tensions on future petrol prices remains unclear. Details remain unconfirmed, leaving consumers and markets in a state of uncertainty regarding potential further increases.
