Finance Minister Ishaq Dar made a significant announcement on Tuesday, revealing a substantial increase in petroleum prices, which have surged by an astounding Rs19.95 per litre.
Petrol at 272 – Diesel at 273
The decision was justified as being in the “national interest.” High-Speed Diesel (HSD) cost has been raised by Rs19.90, reaching Rs273.40 per litre, while petrol prices hiked by Rs19.95, settling at Rs272.95 per litre. These new rates were to take immediate effect.
Minister Dar clarified that the price surge directly resulted from the recent upswing in international petroleum prices over the past 15 days. The move reflects the government’s efforts to adjust local prices in line with global market trends.
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While consumers may not welcome this decision, the minister contends that it was necessary to balance economic interests and maintain stability in the energy sector. As the situation evolves, the impact of this adjustment on the national economy remains to be seen.
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