Shehbaz Sharif government announces hike in petrol, diesel prices in Pakistan after…, petrol now costs PKR…

The revised price of petrol in Pakistan following the hike is PKR 258.43 per litre.

Islamabad: The federal government in Pakistan, led by Prime Minister Shehbaz Sharif, has increased the fuel prices in the country once again. After the hike, the petrol price went up by PKR 4.80 per litre, ARY News reported. The revised price of petrol following the hike is PKR 258.43 per litre. Similarly, the price of high-speed diesel has been increased by PKR 7.95 per litre. It means the people of Pakistan have to pay PKR 262.59 per litre for diesel. Notably, the latest fuel price hike comes as part of the Shehbaz-led government’s regular fuel price adjustment. The revised fuel prices will be in effect for the next 15 days.

According to the official statement, the changes in fuel prices will take effect immediately and remain in force until further notice following the next review.

Earlier, on June 1, 2025, the government of Pakistan officially raised petrol prices by one rupee per litre, ARY News reported. The price of petrol was then set at PKR 253.63 per litre, up from the previous rate of PKR 252.63, as per ARY News. According to the notification, there was no change in diesel rates, which were sold at PKR 254.64 per litre nationwide.

Earlier on June 2, the International Monetary Fund (IMF) put forward several stringent measures to reform Pakistan’s fiscal policies ahead of the budget 2025-26, ARY News reported. The IMF demanded PKR 2 per litre increase in petrol and diesel prices for cash purchasers, while an PKR2 reduction for transactions made via debit or credit cards to encourage digital payments.

The International Monetary Fund (IMF) urged Pakistan to implement a carbon tax on gasoline, diesel, and gasoline-powered vehicles during recent budget discussions, according to ARY News sources.

ARY News reports that the rise in transportation costs will affect citizens’ daily expenses.

(With Agency inputs)