Islamabad: The recent increase in petroleum product prices in the country is not the result of any arbitrary or unilateral government decision, but a direct outcome of severe shocks in the global market. From mid-February 2026 to mid-May 2026, international crude oil prices recorded a historic increase of around 72 percent, significantly impacting economies worldwide.
In contrast, during the same period, the Government of Pakistan increased petrol prices by approximately 59 percent and diesel prices by around 49 percent. These figures clearly show that the rate of increase in domestic prices remained significantly lower than the rise in global crude oil prices. The sharpest fluctuations in the international market were observed during March and April 2026 due to tensions in the Middle East and supply concerns around the Strait of Hormuz.
Since Pakistan imports most of its oil requirements, it cannot remain completely insulated from global market pressures. However, the government absorbed a significant portion of the financial burden instead of passing the full impact on to consumers. Therefore, the claim that petroleum price increases were made without valid reasons is contrary to facts and reflects a lack of understanding of global economic conditions.
