The government has increased the prices of petrol and diesel by 55 rupees per litre each due to prevailing situation in the region.
This was announced by Minister for Petroleum Ali Pervez Malik while addressing a news conference alongside Deputy Prime Minister and Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb in Islamabad on Friday.
He expressed the government’s commitment to revert these prices immediately as the situation normalizes.
The Petroleum Minister said the government is making all out efforts to ensure uninterrupted supply of petroleum products in the country and to prevent any burden on the consumers.
He said in the ongoing situation, the prices of petroleum products will be reviewed weekly.
Speaking on the occasion, Deputy Prime Minister Ishaq Dar said we are regularly reviewing this situation. He said we are in contact with all countries in the region, and are making all out efforts for de-escalation.
The Deputy Prime Minister said the situation ensuing the Israeli attacks on Iran and subsequent attacks in the Gulf region has resulted in a spike in prices of petroleum products globally.
He said prices of petroleum products have already increased upto 50 to 70 percent globally.
In his remarks, the Finance Minister said we will hold discussions with provincial chief ministers to further discuss these matters in next two days.
