Pakistan raises petrol, diesel prices by over Rs13

The Pakistani government has raised the prices of petrol and high-speed diesel by more than 13 rupees per litre, effective July 11, 2026. The increase pushes the price of petrol to 310.17 rupees per litre and diesel to 323.30 rupees per litre, according to a notification from the country's Petroleum Division.

The price hike follows a surge in global crude oil prices, which have been driven higher by escalating tensions between Iran and the United States and attacks on shipping in the Strait of Hormuz. The government's decision reverses a recent reduction; on July 4, officials had lowered petrol and diesel prices by 1.97 rupees per litre each. The new adjustment is in line with earlier projections from industry sources, who had anticipated a rise of approximately 13 to 14 rupees per litre.

Prime Minister Shehbaz Sharif gave final approval for the revised rates. The increase places an additional burden on Pakistani citizens already grappling with high inflation and elevated costs for essential goods. This marks a shift from the government's approach in late June, when it opted to maintain retail fuel prices unchanged for a week despite a decline in international oil prices,...