The federal government has increased petrol and diesel prices, with petrol rising by Rs4.80 per litre and diesel by Rs7.95 per litre, according to a Finance Division notification. The new proce of petrol is Rs258.43 per litre and the new price of diesel is Rs262.59 per litre.

The increases, effective immediately, follow recommendations from the Oil and Gas Regulatory Authority (OGRA) and approval by the finance ministry.

The price hikes come as Balochistan grapples with a worsening fuel crisis, largely attributed to disruptions in the supply of Iranian oil due to the escalating Israel-Iran conflict. Border districts, including Turbat, Gwadar, Panjgur, Chagai, Washuk, and Mashkail, are severely affected, facing not only fuel shortages but also food shortages, as much of their supplies come from Iran. The closure of numerous petrol stations further exacerbates the situation.

While the Balochistan government claims there is no fuel shortage in the provincial capital, reports indicate that 60-70 percent of petrol pumps in border areas are closed due to the Iranian oil supply disruption. Smuggled Iranian fuel, previously sold at inflated prices, is no longer available, adding to the difficulties faced by citizens. Supply from Karachi is also hampered by road blockades. According to Islamabad-based think tank The Khorasan Diary, the price of petrol had risen to Rs390 per litre in some parts of the province.

The provincial government spokesperson attributed the shortages to the closure of petrol stations selling Iranian oil, citing safety concerns due to a high number of fuel-related accidents. He emphasized the government’s efforts to ensure legal fuel supplies through registered pumps and warned of strict action against hoarding or refusal of service.

The ongoing conflict between Israel and Iran has created significant volatility in global oil markets, with oil prices spiking on Friday. Energy experts warn that further escalation could lead to even higher prices.