ISLAMABAD:
Amid the blockade of the Strait of Hormuz due to the Iran-US conflict, the government on Thursday increased the price of high-speed diesel (HSD) by Rs 19.39 per liter and the price of petrol by Rs 6.51 per liter for a week.
According to a notification issued by the Petroleum Division, HSD will now be sold at Rs 399.58 per liter, up from Rs 380.19, while petrol will be available at Rs 399.86 per liter compared to the previous rate of Rs 393.35, reflecting an increase of Rs 6.51 per litre.
High-speed diesel is widely used in transportation and agriculture sectors. As the planting season is underway, the sharp rise in its price is expected to have a negative impact on the agricultural sector, where input costs are already high. Fertilizer prices have also increased due to increased transportation costs.
Gasoline is mainly used by motorcycles and cars. The Prime Minister had earlier announced a subsidy of Rs 100 per liter for motorists. Gasoline also serves as an alternative to compressed natural gas (CNG), but Punjab lacks local gas for CNG outlets, increasing the demand for gasoline.
Meanwhile, amid global tensions, there have been reports of oil supply disruptions due to the situation in the Strait of Hormuz, which handles around 20% of global oil shipments. Global oil prices have surged on concerns over supply shortages, while several Gulf countries have also faced logistical challenges.
In a separate statement, the Petroleum Division rejected reports of petrol pump closures from May 1. The Oil Companies Advisory Council (OCAC) also dismissed rumors circulating on social media about a five-day closure of gas stations.
Pakistan currently holds 28 days of gasoline and 34 days of diesel stocks, the statement said. He said all petrol pumps would remain operational and fuel would continue to be supplied to consumers. The public was urged to ignore “negative publicity spread on social media by unscrupulous elements.”
A spokesperson for the Oil and Gas Regulatory Authority (Ogra) also dismissed claims of a purported strike by the Petroleum Dealers Association, calling the reports false and misleading. “No such strike has been announced by any oil-related association,” the spokesperson said, adding that the public should only rely on verified official sources. “This clarification is issued in the public interest.”
