The government has increased the prices of petrol and diesel by Rs 55 per litre each because of the current situation in the region. The announcement was made during a press conference in Islamabad on Friday by the Minister for Petroleum, who was accompanied by the Deputy Prime Minister and Foreign Minister, and the Finance Minister.
Officials said the decision was taken in response to rising global petroleum prices caused by tensions following recent developments in the Middle East. The government assured the public that this increase is temporary and will be reversed as soon as the situation improves.
The Petroleum Minister stated that the government is doing everything possible to maintain a stable and uninterrupted supply of petroleum products across the country while trying to minimize the financial burden on consumers. He added that in the current uncertain environment, petroleum prices will be reviewed every week.
The Deputy Prime Minister said that the government is closely monitoring the regional situation and is in constant contact with countries in the Middle East to promote de-escalation. He noted that attacks in the region, including those involving Israel and Iran, have triggered a global surge in fuel prices, which have increased by about 50 to 70 percent worldwide.
The Finance Minister also announced that discussions will be held with provincial chief ministers within the next two days to review the economic impact of the situation and explore possible responses. The government emphasized that protecting the country’s economic stability and ensuring energy supply remain top priorities.
