National ( The cow news digital ) The federal government has announced a significant increase in the prices of petroleum products, raising petrol and diesel rates by Rs 26.77 per litre, according to an official notification issued by the Petroleum Division.
As per the notification, the new price of petrol has been fixed at Rs 393.35 per litre, while diesel will now cost Rs 380.19 per litre. The revised prices will come into effect from midnight tonight, impacting consumers across the country.
The Petroleum Division confirmed that the decision was taken in response to rising international crude oil prices and ongoing fluctuations in the global energy market. Authorities stated that the government had attempted to absorb part of the financial burden to minimize the impact on consumers, but external pressures made the adjustment unavoidable.
In addition to the increase in petrol and diesel prices, the government announced a reduction in the price of kerosene oil by Rs 63.60 per litre. The new price of kerosene has been set at Rs 365.21 per litre, offering limited relief to households relying on alternative fuel sources.
Minister for Petroleum Ali Pervaiz Malik explained that rising regional tensions have contributed to increased volatility in global oil prices. He noted that commitments under international agreements also limited the government’s ability to fully shield consumers from the impact of rising costs.
The minister further stated that the government has tried to minimize the burden on the public as much as possible. “We have absorbed a substantial portion of the global price increase to protect consumers,” he said, adding that efforts are ongoing to stabilize the situation.
He expressed hope that improvements in regional peace and stability would eventually lead to a decline in global oil prices, allowing the government to provide relief to the public in future price revisions.
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The sudden hike is expected to impact transportation costs, inflation, and overall living expenses, with economists warning of possible ripple effects across essential commodities and services.
Citizens and transport associations have expressed concern over the repeated fuel price adjustments, urging the government to introduce long-term measures to stabilize energy costs.
