In one go, the government hiked petrol price by Rs137.24 to Rs458, and diesel’s by Rs184.49 per litre to Rs520.
Islamabad, April 2, 2026: The government has announced an exorbitant increase in petrol and diesel prices, taking the petrol price from Rs. 322 to Rs. 458.40 per litre and high-speed diesel (HSD) to Rs520.35 per litre.
Federal Minister for Petroleum Ali Parvez Malik along with the Finance Minister made the announcement during a press conference, citing rising global oil prices as the primary reason behind the hike.
The minister said that the ongoing conflict in the region had engulfed energy markets, causing a sharp surge in crude oil prices. He noted that the government was left with no option but to take difficult and responsible decisions.
Malik stated that the prime minister had already introduced austerity measures, including salary cuts for cabinet members, to reduce government expenditures.
He said that the country was going through a challenging phase and called for national unity to tackle the economic pressures arising from the global energy crisis.