Pakistan increases petrol, diesel prices by PKR 55 per litre, highest-ever hike
The Hindu
Pakistan announces record PKR 55 per litre increase in petrol and diesel prices amid regional conflict and global supply concerns.
In the first post-Iran war economic shock, Pakistan government in an overnight decision has increased petrol and high-speed diesel prices by PKR 55 per litre each, the highest-ever hike.
Addressing a press conference just before midnight, Petroleum Minister Ali Pervaiz Malik, Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb announced the hike with the consolation that the country has sufficient petroleum reserves.
As a result of the hike, the ex-depot price of high-speed diesel was fixed at PKR 335.86 per litre for the coming week, up by about 20% from PKR 280.86 per litre.
Likewise, the ex-depot price of petrol was revised to PKR 321.17 per litre from PKR 266.17 per litre, reflecting an increase of around 17%.
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