ISLAMABAD (Web Desk) – The federal government has announced a historic increase in the price of kerosene oil, raising it by Rs130.08 per litre to Rs318.81 from the previous rate of Rs188.73, according to a notification issued on Saturday. The new price took effect immediately.
The sharp increase comes a day after the government raised petrol and high-speed diesel prices by Rs55 per litre amid a surge in global oil prices linked to the ongoing US-Israel war with Iran.
Petroleum Minister Ali Pervaiz Malik announced the revised fuel prices during a press conference alongside Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.
Following the latest review, petrol prices were set at Rs321.17 per litre, up from Rs266.17, while high-speed diesel increased to Rs335.86 per litre from Rs280.86.
This adjustment marks the first weekly fuel price review since escalating regional tensions disrupted global energy markets and threatened major oil supply routes after the closure of the Strait of Hormuz. Previously, the government revised petroleum prices on a fortnightly basis.
The government also revised the Petroleum Development Levy (PDL), increasing it on petrol from Rs84.40 to Rs105 per litre while reducing the levy on high-speed diesel from Rs76.21 to Rs55 per litre.
Global energy markets have been shaken by the US-Israel war on Iran and Tehran’s retaliatory strikes across the Gulf region, which have severely disrupted shipping and energy flows through the Strait of Hormuz. Crude oil prices surged 8.5% on Friday and nearly 30% over the week after US President Donald Trump stated that only the “unconditional surrender” of Iran would end the Middle East conflict.