ISLAMABAD: The Pakistani government on Friday announced a significant increase in petroleum prices, raising petrol and diesel by Rs55 per liter. Following the adjustment, petrol will cost Rs321.17 per liter and diesel Rs335.86 per liter. The price hike comes amid regional tensions and soaring global energy costs, officials said at a press briefing.
Deputy Prime Minister Ishaq Dar explained that regional conflict has pushed petroleum prices to record highs. He said the government reviewed the situation in meetings chaired by the Prime Minister, coordinating with foreign counterparts to manage tensions. Dar emphasized that authorities are monitoring developments daily before making pricing decisions.
Read more: PM Shehbaz warns hoarders over petrol supply
Finance Minister Muhammad Aurangzeb and Petroleum Minister Ali Pervaiz Malik also addressed the media, acknowledging the extraordinary circumstances affecting the energy market. Malik stated that the neighboring conflict has impacted the entire region, and Pakistan increased its petroleum reserves as a precaution.
The ministers described the price increase as a difficult but necessary decision. They assured citizens that prices would be reviewed weekly and reduced promptly when conditions improve. Malik stressed that the government is acting strategically to maintain supply and stability.
Read more: PM Shehbaz orders strict action against fuel hoarders nationwide
Officials reiterated that the hike aims to balance domestic needs with global pressures and safeguard energy security. The government urged the public to understand the exceptional circumstances and emphasized ongoing efforts to manage fuel availability and affordability.