Pak minister warns petrol could touch Rs 1,000 a litre:Shortages may drive prices higher; already up by 50% in 6 months

Petrol prices in Pakistan could rise to Rs.1000 per litre. Petroleum Minister Ali Pervez Malik said on Sunday that prices could increase further if the country faces a petrol shortage. According to the minister, petrol prices in Pakistan have already increased by around 50%. Petrol currently costs Rs. 389.14 per litre, while diesel is priced at Rs 424.04 per litre. The escalation of fighting in West Asia is driving up global crude oil prices. The closure of the Strait of Hormuz has also increased concerns over oil supplies. This is affecting petrol prices in Pakistan. Government providing subsidies for bikes and small vehicles Amid rising fuel prices, the Pakistan government has launched a petrol subsidy scheme for motorcycles, rickshaws, vehicles and cars with engine capacities of up to 800cc. The scheme provides a subsidy of up to Rs100 per litre on petrol. Each eligible person will receive four tokens per month. Each token will provide a subsidy of ₹500. The scheme now also covers motorcycles registered from January 1, 2006. According to the government, more than 17.5 lakh people have registered under the scheme. Around 15 lakh tokens have been issued, while more than 680,000 tokens have already been used. Pakistan may get domestic oil by October The Pakistan government is working to discover new oil reserves in the country. Petroleum Minister Ali Pervez Malik said work has begun on oil wells and crude oil is expected to be found by October. The government has also awarded new blocks to companies for oil and gas exploration. The aim is to increase domestic production and reduce spending on oil imports. If the new wells begin producing oil on a commercial scale, Pakistan could meet part of its domestic requirement from local supplies. This could also reduce the pressure on the country when international oil prices rise. Petrol and diesel prices rise by up to 17% in Bangladesh The Bangladesh government has increased fuel prices by up to 17.4%. The new prices came into effect on Monday, September 21. The increase could raise transportation and manufacturing costs in Bangladesh. It is also expected to put additional pressure on people and businesses already dealing with inflation and shortages of electricity and gas. Under the government’s new rates, diesel has increased from 115 taka to 135 taka per litre. The price of octane has risen from 145 taka to 165 taka, petrol from 140 taka to 160 taka and kerosene from 135 taka to 155 taka per litre. According to Bangladesh’s Energy Ministry, international fuel prices have more than doubled since March 2026. The government said the rising costs have also affected the state-owned Bangladesh Petroleum Corporation (BPC).