Pakistan’s federal government has increased petrol and diesel prices by Rs55 per litre, citing rising global oil prices triggered by escalating Middle East tensions. The announcement was made during a press conference by Petroleum Minister Ali Pervaiz Malik, alongside Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.
Following the hike, the price of petrol has risen to Rs321.17 per litre, while high-speed diesel now costs Rs335.86 per litre. Officials said the decision reflects extraordinary global market conditions, particularly concerns about energy supply disruptions after geopolitical tensions affected key oil routes.
The government also announced that fuel prices will now be reviewed weekly instead of fortnightly to respond more quickly to international market fluctuations. Authorities assured the public that Pakistan has sufficient petroleum reserves and urged people not to panic.