Pakistan has significantly increased its fuel prices for the second time in less than a month, attributing the hike to rising global oil prices influenced by ongoing tensions in the Middle East. The government announced that petrol prices would rise by approximately 43%, reaching PKR 458.40 per litre, while diesel saw an increase of about 55%, bringing its new price to PKR 520.35 per litre. Petroleum Minister Ali Pervaiz Malik stated the decision was unavoidable given international market conditions and the country's limited resources. Pakistan, heavily reliant on imported fuel, cited supply disruptions through routes like the Strait of Hormuz as a contributing factor to the price adjustments.
The Pulse
EconomyPoliticsHOT3h ago