Massive hike in prices of petrol, HSD announced

The federal government hiked petrol by 43 percent and diesel by 55 percent, marking a record increase; however, a temporary three-month subsidy remains in place to safeguard lower and middle-income group. Speaking at a press conference alongside Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik announced on Thursday Rs 137.23 per litre increase in petrol price and Rs 184.49 per litre in High Speed Diesel (HSD) price following surge in global oil prices due to US-Israel war in Iran. He said the new price of petrol has been fixed at Rs 458.40 per litre and HSD at Rs 520.35 per litre. The government had already absorbed Rs 129 billion price impact of global oil prices since March 1, 2026. The decision has been taken in consultant with government allied parties and chief ministers of four provinces. “We are thankful to President, government allied parties and chief minister who assured full support in current fuel crises,” he added. Aurangzeb unveiled a package of targeted subsidies and energy conservation measures, signalling a decisive shift away from blanket relief toward more focused support for vulnerable segments.