Petrol Prices to cross Rs350 Per Litre in Pakistan in April amid Global Oil Surge?

ISLAMABAD – Inflation-weary Pakistanis brace for another blow as petrol prices are expected to jump again, possibly surpassing Rs350 per litre, if the government passes on soaring global oil costs.

Sources said the federal government is planning to shift most of the rising international fuel burden onto consumers this time, while offering only limited subsidies to select groups, including farmers and bikers.

The announcement comes after high-stakes meeting chaired by Finance Minister Muhammad Aurangzeb, attended by chief ministers from all four provinces, KP’s finance minister, and top federal officials. According to insiders, fuel prices could increase within days, though exact figures remain in flux due to volatile global oil markets.

Petrol Price in Pakistan

The expected increase is due to widening gap between domestic fuel prices and international import costs, estimated at a staggering Rs100 per litre for petrol and over Rs200 per litre for diesel. Authorities are weighing whether consumers should absorb the full petrol gap and roughly half the diesel difference, with final calculations expected from the Petroleum Division and the Oil and Gas Regulatory Authority (Ogra) later this week.

Last month, the government spent Rs129 billion on fuel subsidies, and the Sharif-led administration plans to keep total support under Rs158 billion. Behind the scenes, discussions are underway to have provincial governments share the subsidy burden, previously borne almost entirely by the federal government. Punjab and Sindh would contribute based on population, while KP and Balochistan would pay according to fuel consumption.

Punjab and Sindh reportedly favor passing the entire price hike to consumers while offering direct aid only to priority sectors—a move officials warn could be “politically explosive.” Global oil prices have surged again, complicating decisions and delaying provincial confirmations.

Fuel crises are sweeping the world: prices have jumped in over 85 countries following the Iran war, which disrupted global supply chains. Pakistan has seen petrol rise around 20 percent, while India has largely kept domestic prices stable.