Petrol Prices in Pakistan to cross Rs400 Per Litre from May 1 amid Record Hike in Crude Rates

ISLAMABAD – Pakistan is bracing for yet another painful surge in fuel prices as Petrol is expected to become more expensive from May 1, 2026, with reports warning it could surpass Rs400 per litre mark. The looming increase comes at a time when the government remains under heavy pressure to meet IMF-backed fiscal targets, while global oil markets continue to stay overheated. Brent crude is reportedly hovering around $115 per barrel, keeping import costs and domestic pricing under intense strain. Current Petrol Prices in Pakistan POLs New price Petrol 393.35 High Speed Diesel 380.19 Light Speed Diesel 159.76 Kerosene Oil 467.48 Global Oil Prices Indexes Price Change WTI Crude 103.94 +4.01 Brent Crude 115.93 +4.67 Murban Crude 109.31 +2.61 Natural Gas 2.635 -0.056 Gasoline 3.677 +0.116 Prime Minister Shehbaz Sharif confirmed that revised petroleum product prices will be announced on Friday. He acknowledged the difficult balancing act his government faces, citing volatile international oil trends and rising fiscal constraints. However, he assured that the final decision would still take public interest into account. For already inflation-hit citizens, the expected hike threatens to deliver another major shock. Transport fares and essential goods have already surged in recent months, and economists warn that another fuel increase could trigger a fresh wave of inflation across the economy. Behind the scenes, the Ministry of Finance is also reportedly considering an additional increase in the petroleum levy, a move aimed at boosting revenue and satisfying International Monetary Fund requirements. Officials say levy collections are already projected to surpass the annual target of Rs1.468 trillion, yet further adjustments are still being discussed. Economic experts are raising alarms, warning that higher fuel taxation would directly feed into inflation and further increase transportation costs, deepening financial pressure on households. This development follows an earlier