Petrol, diesel prices hiked

ISLAMABAD: Federal government Friday announced a massive hike in fuel prices, raising both petrol and high-speed diesel by Rs26. 77 per litre, effective from April 25, 2026. Following the increase, according to the statement of Petroleum Division, the new price for petrol is Rs393. 35 per litre, while high-speed diesel price has risen to Rs380. 19 per litre, driven by rising petroleum levy (PL) and global oil prices. It is reportedly said that the adjustment is made in the PL, which has been increased to Rs107. 4 per litre on petrol from Rs 80 per litre. READ MORE: Pakistan govt slashes diesel price by Rs32. 12 The prices of kerosene oil and light diesel oil were reduced following a decline in global oil benchmarks. Kerosene oil price was cut by Rs63. 6 per litre to Rs365 per litre, while light diesel oil rate was reduced by Rs29 per litre to Rs270 per litre. The petroleum levy on petroleum products collections have exceeded Rs1. 2 trillion in the first nine months (July-March) of the fiscal year 2025-25, around 82 percent of the budgetary target of Rs1. 468 trillion. Pakistan is facing record-high fuel import costs, with Pakistan State Oil (PSO) importing diesel at a record premium of up to $34 per barrel, driven by supply disruptions in the Strait of Hormuz. Brent crude oil (OIL) futures are slightly lower on Friday after a strong rebound earlier in the week that began on April 20, when prices rose from around $83 to nearly $101 per barrel. Brent crude closed at $ 105 a barrel on 23 April, up around 17% from the post-ceasefire low near $ 90 on 17 April. Copyright Business Recorder, 2026

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