‘Petrol at PKR 380 per litre, inflation unbearable’: Pakistan stares at economic crisis amid US-Iran tensions

File photo for representative purposes only: A woman holds a placard during a protest, calling the government to reduce the fuel prices in Islamabad, Pakistan.

As peace negotiations between the US and Iran remain elusive, Pakistan — which was their preferred mediator — is facing a fresh inflation crisis.

According to news agency ANI, residents of the country’s capital city Islamabad have expressed deep concern over soaring fuel prices, rising living costs, and the worsening economic burden on ordinary citizens.

Several have claimed the ongoing has already begun affecting daily life in Pakistan. They complained that inflation has reached unbearable levels, making it increasingly difficult for salaried workers and low-income families to meet basic expenses.

Petrol price at PKR 380 per litre in Pakistan

One resident said he had been forced to leave his car parked for over a month because he could no longer afford fuel, adding that even maintaining a motorcycle had become difficult.

“Our salaries remain the same, but prices keep increasing. Survival is becoming nearly impossible,” he said.

Residents argued that higher fuel prices inevitably lead to increases in public transport fares, food prices, and other essential goods.

According to Pakistan’s local newspaper , the neighbouring country cut its petrol and diesel prices by PKR (Pakistan Rupee) 22 per litre on 29 May. After the cuts, diesel was priced at around PKR 380 per litre and petrol priced at around PKR 381 per litre. As of today’s exchange rate, 1INR = 2.94 PKR.

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Several speakers argued that military actions and missile strikes undermine diplomatic efforts and prolong instability in the region. Residents also blamed the continued deadlock on geopolitical rivalries and alleged external interference in the peace process.

Calling for an immediate end to hostilities, Islamabad residents urged all parties to prioritise negotiations, stressing that peace is essential to stabilising fuel prices, controlling inflation, and preventing further hardship for millions of Pakistanis.

— With inputs from ANI

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