Premium fuel gets costly in Pakistan: Govt triples high-octane price amid global oil pressure

Pakistan has significantly increased the price of high-octane fuel, tripling it amid global energy pressures and geopolitical tensions.

The government has raised the levy on premium-grade fuel used primarily by high-end vehicles, taking the price from PKR 100 per litre to PKR 300 per litre, a steep 200 per cent increase. The decision was approved by Prime Minister Shehbaz Sharif during a high-level review meeting focused on fuel pricing and broader economic measures.

The hike is targeted and will not directly affect public transport or aviation fuel costs, as the increase applies specifically to high-octane fuel consumption, according to ARY News.

The meeting was attended by key cabinet members, including Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, highlighting the seriousness of the evolving fuel cost situation.

Rising global oil pressure

The move comes amid rising global oil prices, driven by ongoing tensions in West Asia. Earlier this month, Pakistan had already revised fuel prices upward, increasing petrol and diesel rates by PKR 55 per litre in response to international market pressures.

Following that revision, petrol prices rose to PKR 321.17 per litre, while diesel climbed to PKR 335.86 per litre, reflecting the broader impact of global supply concerns on domestic energy costs.

Impact on aviation and travel

The impact of rising fuel costs is also visible in the aviation sector, with airfares witnessing a sharp upward revision. Domestic ticket prices on routes such as Karachi, Lahore and Islamabad have increased by several thousand rupees, reflecting higher operational expenses for airlines.

International travel has seen even steeper hikes, with fares rising in the range of PKR 10,000 to PKR 28,000. Routes connecting Pakistan to the Middle East and Central Asia have been particularly affected, with ticket prices on some sectors going up by around PKR 15,000, as carriers adjust to the surge in jet fuel costs.