Pakistan’s federal government announced a sharp increase in fuel prices late Friday, raising petrol and high-speed diesel (HSD) by Rs. 55 per litre. Petrol now costs Rs. 321.17 per litre, while diesel is Rs. 335.86 per litre.
Deputy Prime Minister Muhammad Ishaq Dar, Finance Minister Muhammad Aurangzeb, and Federal Petroleum Minister Ali Pervez Malik confirmed the revision during a press conference. The petroleum levy on diesel has been reduced from Rs. 76.21 per litre to Rs. 55.20 per litre.
The hike comes amid rising tensions in the Middle East, affecting global commodity markets, and following the International Monetary Fund’s recommendation to pass on increased petroleum costs to consumers. This follows last week’s earlier fuel price increase, reflecting ongoing global price volatility.
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