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Govt hikes petrol price by Rs14.92, high-speed diesel by Rs15
- On Friday, Pakistan's government increased petrol prices by Rs14.92 per litre and high-speed diesel by Rs15 per litre. Effective Saturday, May 9, the new prices reach Rs414.78 and Rs414.58 per litre, respectively.
- Ongoing global volatility linked to the conflict involving Iran continues to drive these increases. The closure of the Strait of Hormuz, through which one-fifth of global oil and gas supplies passed, has severely restricted energy supply chains.
- Last week, authorities raised petrol by Rs6.51 per litre and HSD by Rs19.39. These adjustments follow erratic price swings, including an April 2 announcement of 43 per cent for petrol and 55pc for diesel.
- Economists warn these persistent hikes will trigger further inflation, as fuel costs directly impact transportation and food prices. Petrol is primarily consumed in private transport, directly straining household budgets for middle and lower-middle income groups.
- Iranian Foreign Minister Abbas Araqchi has visited Pakistan twice to discuss regional stability. While Pakistan plays a key role in de-escalating US-Iranian tensions, economists warn high fuel costs remain a significant threat to citizens.
Insights by Ground AI
16 Articles
16 Articles
Govt hikes petrol by Rs14.92, diesel price jumps to nearly Rs415 per litre
Petrol price rises above Rs414 per litre after review.Diesel, petrol record third consecutive weekly increase.Global oil prices surge amid escalating US-Iran tensions.The federal government has increased petrol and diesel prices by...
Coverage Details
Total News Sources16
Leaning Left1Leaning Right4Center1Last UpdatedBias Distribution66% Right
Bias Distribution
- 66% of the sources lean Right
66% Right
L 17%
C 17%
R 66%
Factuality
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