ISLAMABAD: The government has announced a significant increase in the prices of petrol and diesel. Petrol prices have been raised by 26 rupees and 77 paise per liter, and diesel prices have also been increased by the same amount.
The Petroleum Division has issued a notification confirming the price hike. According to the notification, the new price of petrol will be Rs. 393.35 per liter, while the new price of diesel will be Rs. 380.19 per liter.
The new prices will come into effect from 12 midnight tonight.
Oil Minister Ali Pervaiz Malik stated that regional tensions are causing another rise in global oil prices. He explained that due to agreements with international partners, the government has had to take measures to pass on the increased costs to consumers.
The minister added that the government has absorbed as much of the global price increase as possible and expressed hope that regional peace will be restored soon, allowing for relief to be provided to the public.
