Pakistan raises fuel prices amid Strait of Hormuz blockade
Islamabad: Amid blockade of the Strait of Hormuz due to the Iran-US conflict, the Pakistan government has raised the price of high-speed diesel (HSD) by Pakistani Rupees (PKR) 19.39 per litre and the price of petrol by PKR 6.51 per litre for one week, local media reported on Friday.
As per the notification issued by the Pakistan’s Petroleum Division on Thursday, price of HSD has been increased from PKR 380.19 to PKR 399.58 while petrol will be sold at 399.86 per litre compared to the previous rate of Rs 393.35 at PKR 393.35, Pakistan’s leading daily The Express Tribune reported.
High-speed diesel is used in the transport and agriculture sectors. As the sowing season is underway, the sharp rise in its price is expected to impact the agriculture sector. Fertiliser prices have increased due to hike in transportation costs.
Earlier in April, residents in Peshawar and other parts of Pakistan’s Khyber Pakhtunkhwa have been facing difficulties due to acute shortage of natural gas as CNG stations remained shut across the province, local media reported.
Majority of school van and bus operators had suspended their services due to unavailability of CNG while public transporters have increased fares after they started using petrol, placing further financial burden on residents, Pakistan’s leading daily ‘The Express Tribune’ reported.
CNG filling stations remained shut in Peshawar and other parts of Khyber Pakhtunkhwa. Several areas of Khyber Pakhtunkhwa experienced unannounced loadshedding of natural gas, further increasing the problems for domestic and commercial consumers.
The closure of CNG stations had forced many vehicles to either stop operations or run at higher price of petrol, causing further hike in transport fares. School transporters were among the worst impacted as they have said that running vehicles on petrol is beyond their capacity, leaving them with no option except to disrupt their services. Parents have voiced concern over the suspension of school transportation, fearing it would impact education and daily routine of children.
Public transport operators also faced several difficulties with those who have switched to petrol instead of CNG increasing fares. They have warned of suspending services if CNG stations do not resume operations.