Pakistan Raises Fuel Cost By 200% Amid Strait Of Hormuz Choke

Pakistan Raises Fuel Cost By 200% Amid Strait Of Hormuz Choke

Pakistan decided on Sunday that it would increase the levy on high-octane fuel per litre by Pakistani Rupees (PKR) 200 from PKR 100 to PKR 300, as per ARY News.

Pakistani Prime Minister Shehbaz Sharif approved the significant increase in the levy on high-octane fuel used by luxury vehicles. The decision was taken during a high-level meeting chaired by Sharif, where he reviewed matters related to fuel pricing and economic relief.

The increase in high-octane fuel prices will not impact public transport fares and air travel costs, ARY News reported.

The meeting was attended by Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.

Earlier on March 6, the federal government had raised petrol and diesel prices by PKR 55 per litre as surging global oil prices, fuelled by the US-Israel war with Iran, put pressure on domestic energy costs, ARY News reported.

The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishaq Dar and Finance Minister Muhammad Aurangzeb.

The new price of petrol will be PKR 321.17 per litre from PKR 266.17; whereas, the diesel rate will be PKR 335.86 per litre from PKR 280.86 after the review, as per ARY News.

Meanwhile, Pakistani airlines on March 10 increased fares following an uptick in jet fuel prices, ARY News reported, citing airline sources.

According to these sources, domestic ticket prices have risen by PKR 2,800 to PKR 5,000. This increase applies to flights from Karachi to Lahore, Islamabad, and other domestic stations, as reported by ARY News.

International travel has seen an even more significant jump, with fares increasing by a staggering PKR 10,000 to PKR 28,000. Specifically, fares for flights to Middle Eastern and Central Asian countries have risen by PKR 15,000.

(This story has not been edited by VoM News staff staff and is auto-generated from a syndicated feed.)