Islamabad(The COW News Digital)The government of Pakistan has announced a sharp increase in petroleum prices, raising the cost of petrol and diesel by Rs55 per litre with immediate effect from midnight.
Officials said the decision was taken in response to rising global oil prices amid escalating tensions in the Middle East. The increase applies to both petrol and high-speed diesel, and authorities have indicated that fuel prices will now be reviewed and adjusted on a weekly basis.
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he announcement was made during a joint press conference by Deputy Prime Minister Ishaq Dar along with Finance Minister Muhammad Aurangzeb and the petroleum minister. Government officials said the step was unavoidable due to significant fluctuations in international energy markets.
Dar said global petroleum prices had surged by as much as 50 percent following growing geopolitical tensions in the region
