Petroleum Ministry Proposes Massive Hike in Petrol and Diesel Prices

Islamabad: The Ministry of Petroleum has prepared a summary proposing a significant increase in fuel prices in Pakistan. According to the draft, petrol prices may rise by PKR 73 per liter, while diesel prices could increase by PKR 84 per liter.

Sources say the summary will now be sent to relevant authorities for approval, and once approved, the new prices will be implemented immediately.

The proposed hike takes into account global oil prices, the depreciation of the Pakistani rupee, and adjustments related to taxes and subsidies. Officials indicated that measures to minimize the impact on the public are also under consideration.

Experts warn that if the increase is approved, it could severely affect daily expenses, particularly raising the cost of transportation and food. Pakistan has seen multiple increases in petroleum prices in recent months, significantly impacting inflation at the consumer level.