Petrol prices in Pakistan could rise above Rs1,000 per litre if international crude oil prices reach $200 per barrel and the government ends fuel subsidies, according to an energy market estimate reported on October 9, 2026. However, this remains a possible scenario rather than an announced price increase.
The warning comes as tensions in the Middle East threaten global oil supplies. Russell Hardy, chief executive of energy trading company Vitol, said this week that crude oil could reach $200 per barrel if shipping through the Strait of Hormuz faces further disruption. The route is important for moving oil from Gulf producers to international markets.
Pakistan is already facing high fuel costs. The government set the petrol price at Rs398.96 per litre from October 9, following a recent increase linked to changes in global oil prices.
The IMF has also called on Pakistan to end its broad fuel subsidy programme and limit assistance to people who need it most. The lender says any support during periods of high oil prices should be targeted and temporary.
If oil prices rise sharply, Pakistan could face higher import costs and further pressure on household budgets. Transport, food and other everyday expenses could also increase if fuel becomes more expensive.
