Petrol Price in Pakistan Rises Rs1.2 to Rs393.86 for Oct 15Pakistan

The latest adjustment reverses the previous day’s revision, under which petrol had been reduced by Rs2.71 a litre and diesel by 3 paisas for October 14.

The shift to daily price notifications was announced as renewed tensions between the United States and Iran fuelled volatility in global oil markets and raised concerns over fuel supplies. Since Pakistan imports the bulk of its petroleum requirements, international price movements feed quickly into domestic pump prices.

Prime Minister Shehbaz Sharif had announced a special relief scheme on September 13 offering Rs100 a litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc, in a bid to shield lower-income consumers from rising fuel costs. According to the plan, an estimated 11.8 million people would benefit: about 10 million two-wheeler users and 800,000 three-wheeler users would get relief on 20 litres of fuel a month, worth up to Rs2,000 each, while around one million owners of cars up to 800cc would receive relief on 30 litres a month, worth up to Rs3,000 each.

Amid rising fuel prices, the government also reintroduced austerity and fuel-conservation measures on September 17. Under a Cabinet Division notification, shops, markets, shopping malls, bazaars and grocery stores must close by 9pm, marriage halls and marquees by 10pm, and restaurants, cafes and eateries by 11pm, with takeaway and home-delivery services exempt.

On the international front, oil prices steadied on Wednesday as traders weighed fresh risks to supply. Brent crude futures edged up 13 cents to $105.56 a barrel, while US West Texas Intermediate crude gained $1.25 to $95.39, a more than two-week high. Market analysts linked the firm tone to attacks on shipping in the Strait of Hormuz and military strikes between Saudi Arabia and Yemen’s Houthis, which have kept investors anxious about Gulf exports.

The daily pricing mechanism means consumers could see pump prices move more frequently in the coming weeks as global crude markets react to geopolitical developments, conflicts in the Middle East, sanctions on oil-producing countries and disruptions in shipping routes such as the Strait of Hormuz and the Red Sea.