By Our Correspondent
ISLAMABAD – The Government of Pakistan has announced a significant increase in fuel prices, raising petrol to Rs458 per litre and diesel to Rs520 per litre in an emergency move.
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The decision was unveiled during a joint press conference by the Federal Minister for Petroleum and the Finance Minister, who attributed the sharp rise to soaring global oil prices and ongoing geopolitical tensions.
Officials said the increase was unavoidable to ensure uninterrupted fuel supply and manage mounting fiscal pressures, as Pakistan continues to rely heavily on imported petroleum products.
The hike is expected to have a widespread impact on the economy. Petrol price increases will directly affect private transport and commuting costs, while the surge in diesel prices is likely to drive up transportation charges, agricultural expenses and the cost of essential commodities.
Economic experts have warned that the sharp rise in fuel prices could trigger a new wave of inflation, placing additional burden on households and businesses across the country.
The government indicated that it may consider relief measures to support vulnerable segments, but cautioned that maintaining subsidies under current economic conditions remains challenging.
Pakistan has raised petrol to Rs458 and diesel to Rs520 per litre in a major fuel price hike, with authorities citing global oil prices and warning of inflationary impact.
