Government Announces Rs55 Per Litre Increase in Petrol and Diesel Prices

Islamabad: The government has announced a **Rs55 per litre increase** in the prices of petrol and diesel, with the new rates coming into effect from **midnight**.

During a press conference, Deputy Prime Minister Ishaq Dar said the decision was taken after reviewing the rapidly changing situation in the region. He stated that tensions in the region, particularly after the attack on Iran, led to a sharp rise in global petroleum prices.

Dar explained that the government had formed a committee to review petroleum product prices. He added that the surge in international oil prices could have negative impacts on both the public and the national economy, and the government was trying to minimize the burden on citizens. He also said Pakistan is in contact with several countries to help reduce tensions in the region.

Finance Minister Muhammad Aurangzeb said the committee was formed on the instructions of Prime Minister Shehbaz Sharif. He noted that global fuel prices have been increasing sharply on a daily basis and that Pakistan’s economy is closely linked with the energy sector. He added that despite global challenges, Pakistan remains in a relatively stable macroeconomic position.

Federal Petroleum Minister Ali Pervaiz Malik confirmed that petrol and diesel prices have been increased by Rs55 per litre. He said energy prices have surged worldwide and that on March 1 petrol was priced at **$78 per barrel** while diesel was **$88 per barrel**, but prices have risen significantly since then.

The minister said the government was forced to take the difficult decision due to the global situation, adding that fuel prices would be reviewed again and could be reduced once conditions improve. He also assured that efforts are being made to ensure a stable supply of fuel across the country.

A notification regarding the new petroleum prices has been issued, and the revised rates will remain effective **for the next week starting from midnight**.