LAHORE (Web Desk) – The government has announced a sharp increase of Rs55 per litre in petrol and diesel prices, effective from midnight, citing rising international oil rates due to tensions in the Middle East.
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Petroleum Minister Ali Parvez Malik confirmed the hike following a review meeting chaired by Deputy Prime Minister Senator Ishaq Dar. The session assessed national petroleum reserves, global market conditions, and recommended adjustments in fuel pricing.
The Prime Minister has approved weekly revisions of petroleum products to respond dynamically to price fluctuations. The meeting included Finance, Petroleum, and Commerce Ministers, alongside officials from OGRA, PARCO, and other relevant agencies.
Following the announcement, long queues of vehicles and motorcycles formed at fuel stations in Lahore and other major cities, with public frustration visible as disputes broke out at pumps.
Authorities have assured that sufficient petroleum reserves are in place, and the weekly pricing mechanism aims to balance market stability while reflecting global price movements.
