As Pakistan positions itself as a potential mediator in the escalating Iran conflict, ordinary Pakistanis are already feeling the economic fallout. The government has sharply raised fuel prices, underscoring how regional instability can quickly hit households, businesses and transport costs.
Islamabad on Friday increased the price of petrol by Rs26.77 per litre for the coming week, citing surging global oil prices triggered by the Iran war and mounting tensions across the Middle East. The revised rates, effective April 25, take petrol to Rs393.35 per litre from Rs366.58, while high-speed diesel (HSD) now costs Rs380.19 per litre, up from Rs353.42.
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The hike comes at a delicate moment for Pakistan, which has sought to balance its regional relationships while projecting itself as a bridge between competing powers. Prime Minister Shehbaz Sharif has called for de-escalation, while Islamabad has been actively engaging with Tehran, Gulf capitals and Western partners in an effort to prevent a wider regional war.
Pakistan is also expected to host the second round of truce talks aimed at reducing tensions and exploring a pathway to a ceasefire. The diplomatic effort has elevated Islamabad's profile, but it has also exposed the country's economic vulnerability to any prolonged disruption in global energy markets.
Petroleum Minister Ali Pervaiz Malik said the latest increase was unavoidable.
"Due to the mounting pressure from rising oil prices and agreements with global partners, the government is compelled to pass on the burden of price hikes to the public," he said.
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He added that the government had absorbed as much of the global price shock as possible, while both federal and provincial authorities had attempted to cushion consumers through relief measures.
The increase marks a dramatic reversal from last week's announcement, when Sharif had unveiled a Rs32.12 per litre cut in diesel prices during his visit to Turkey. At the time, diesel was reduced from Rs385.54 to Rs353.43 as part of the government's broader effort to provide economic relief.
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