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Pakistan Hikes Luxury Fuel Price 200% Amid Global Oil Crisis

Pakistan has approved a massive 200% increase in the price of high-octane fuel, raising it from PKR 100 to PKR 300 per litre. Prime Minister Shehbaz Sharif chaired the meeting that approved this levy, which is specifically targeted at luxury vehicles and will not affect public transport or air travel fares. This move follows a previous significant hike in regular petrol and diesel prices in early March, attributed to surging global oil markets. The ongoing geopolitical tensions involving the US, Israel, and Iran are cited as key drivers behind the rising international oil prices impacting Pakistan.

Key Points: Pakistan's 200% Fuel Price Hike on High-Octane Petrol

  • 200% price hike on high-octane fuel
  • PM Shehbaz Sharif chairs approval meeting
  • Levy targets luxury vehicles only
  • Earlier petrol & diesel prices also raised
  • Global oil prices surge due to US-Israel-Iran tensions
2 min read

Pakistan raises fuel cost by 200pc amid Strait of Hormuz choke

Pakistan raises high-octane fuel price from PKR 100 to 300 per litre. PM Shehbaz Sharif approves levy targeting luxury vehicles.

"The increase in high-octane fuel prices will not impact public transport fares and air travel costs - ARY News"

Islamabad, March 23

Pakistan decided on Sunday that it would increase the fare of high-octane fuel per litre by Pakistani Rupees 200 from PKR 100 to PKR 300, as per ARY News.

Pakistani Prime Minister Shehbaz Sharif approved the significant increase in the levy on high-octane fuel used by luxury vehicles. The decision was taken during a high-level meeting chaired by Sharif, where he reviewed matters related to fuel pricing and economic relief.

The increase in high-octane fuel prices will not impact public transport fares and air travel costs, ARY News reported.

The meeting was attended by Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.

Earlier on March 6, the federal government had raised petrol and diesel prices by PKR 55 per litre as surging global oil prices, fuelled by the US-Israel war with Iran, put pressure on domestic energy costs, ARY News reported.

The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishaq Dar and Finance Minister Muhammad Aurangzeb.

The new price of petrol will be PKR 321.17 per litre from PKR 266.17; whereas, the diesel rate will be PKR 335.86 per litre from PKR 280.86 after the review, as per ARY News.

Meanwhile, Pakistani airlines on March 10 increased fares following an uptick in jet fuel prices, ARY News reported, citing airline sources.

According to these sources, domestic ticket prices have risen by PKR 2,800 to PKR 5,000. This increase applies to flights from Karachi to Lahore, Islamabad, and other domestic stations, as reported by ARY News.

International travel has seen an even more significant jump, with fares increasing by a staggering PKR 10,000 to PKR 28,000. Specifically, fares for flights to Middle Eastern and Central Asian countries have risen by PKR 15,000.

- ANI

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Reader Comments

P
Priya S
While it's a relief that public transport fares aren't affected (for now), such massive hikes are unsustainable. The ripple effect on goods transport and eventually prices is inevitable. It's a tough situation for our neighbours, but also a stark reminder for India to secure alternative energy routes and suppliers.
A
Aman W
PKR 321 for petrol! That's roughly ₹9.5. Our prices are high too, but this is another level. The geopolitical tension in the Gulf is hitting everyone hard. Hope our government is watching this closely and has contingency plans. Jai Hind.
S
Sarah B
The international flight fare hikes are brutal. PKR 28,000 is a huge amount for many. This will hit the diaspora and migrant workers the hardest. It's a humanitarian concern beyond politics. Hope stability returns to the region soon for everyone's sake.
V
Vikram M
They say it won't impact public transport, but that's short-term. Everything is connected. When transport costs for goods go up, vegetable prices will follow. It's basic economics. Tough times ahead for the average Pakistani citizen. We should be empathetic but also learn from their crisis.
K
Karthik V
Focusing the hike on high-octane fuel for luxury vehicles is actually a smart, progressive move. It protects the common people while making the affluent pay more. A policy worth noting. However, the underlying issue of over-reliance on Gulf oil remains a shared challenge for South Asia.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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