Pakistan Raises Fuel Costs by 200% Amid Strait of Hormuz Crisis Pakistan’s government approved a significant increase in the levy on high-octane fuel used by luxury vehicles, raising the per-litre charge from Pakistani Rupees (PKR) 100 to PKR 300. The decision, announced by Prime Minister Shehbaz Sharif during a high-level meeting, was part of efforts to address rising energy costs amid global market pressures. The move was taken after reviewing fuel pricing and economic relief measures, with senior officials including the Finance Minister, Petroleum Minister, and others present at the meeting. The price hike specifically targets high-octane fuel, which is used in premium vehicles, and will not directly affect public transport fares or air travel costs, according to reports from ARY News. This clarification aims to mitigate public backlash, as the increase comes amid heightened economic strain. Earlier on March 6, the federal government had already raised petrol and diesel prices by PKR 55 per litre, citing surging global oil prices driven by geopolitical tensions, including the US-Israel conflict with Iran. The latest adjustments have led to petrol prices rising to PKR 321.17 per litre from PKR 266.17, while diesel prices climbed to PKR 335.86 per litre from PKR 280.86. These changes were confirmed by Petroleum Minister Ali Pervaiz Malik during a press conference alongside Finance Minister Muhammad Aurangzeb and Deputy Prime Minister Ishaq Dar. The fuel price surge has also impacted the aviation sector. Pakistani airlines announced fare hikes on March 10, with domestic ticket prices increasing by PKR 2,800 to PKR 5,000 for flights between major cities like Karachi, Lahore, and Islamabad. International travel fares saw even steeper increases, with prices rising by PKR 10,000 to PKR 28,000.#pakistan #strait_of_hormuz #shehbaz_sharif #ary_news #ali_pervaiz_malik
