Pakistan Announces Massive Increase in Petrol and Diesel Prices

Islamabad: Ali Pervaiz Malik, the Federal Minister for Petroleum, has announced a significant increase in the prices of petrol and diesel in Pakistan.

Speaking during a media briefing alongside Deputy Prime Minister Ishaq Dar, the minister said that the government has raised the prices of both petrol and diesel by **Rs55 per litre**.

Following the increase, the **new price of petrol has been set at Rs321.17 per litre**, while **diesel will now cost Rs335.86 per litre**.

Ali Pervaiz Malik stated that the country is currently facing **extraordinary circumstances**, adding that the situation developing in neighboring regions has affected the entire area. He said the government had already increased petroleum reserves to manage the situation and was trying to handle the matter with a careful strategy.

Meanwhile, a meeting regarding petroleum products was held under the chairmanship of Deputy Prime Minister Ishaq Dar. The meeting reviewed the **existing fuel reserves in the country and the rise in global oil prices**.

According to the official statement, the government considered recommendations from the Ministry of Petroleum regarding price adjustments, and the **new fuel prices will come into effect from midnight tonight**.

The meeting was attended by the finance minister, petroleum minister, commerce minister, and other senior officials, while representatives from regulatory bodies including OGRA and PARCO briefed participants on the country’s petroleum reserves.