Pakistan Hikes Petrol Prices by 55 Rupees Amid Hopes for Russian Oil Imports
Following a sharp rise in fuel prices in Pakistan, the price of petrol has reached 321.17 rupees per liter, while diesel is now 335.86 rupees per liter. The Pakistani government announced a 55-rupee increase on both types of fuel, sparking widespread concern among residents and economic activists across the country.
Energy experts say Pakistan is facing a serious crisis due to rising oil prices and is looking to import oil from Russia to ease potential economic pressures. They believe ongoing regional tensions and instability in the global energy market have placed Islamabad in a difficult economic position.
Some experts have warned that if the Iran-related conflict continues for another week, Pakistan might be forced to reconsider its regional strategies and turn to oil imports from Central Asia. These comments come as recent geopolitical developments directly impact energy markets.
Ali Pervez Malik, Pakistan’s Petroleum Minister, stated that recent regional changes and global energy market instability have compelled the government to make this decision. According to him, the fuel price increase reflects international conditions.
Meanwhile, the Pakistan Business Council has estimated that with every 10-dollar increase in global oil prices, the country’s current account deficit will rise by between 1.5 and 2 billion dollars—an issue that could have severe economic consequences for Pakistan.
