March 07, New Delhi: Pakistan has increased fuel prices for diesel and petrol by approximately 20%, marking one of the largest increases in its history.
In a televised address, Petroleum Minister Ali Pervaiz Malik announced a 55-rupee increase, bringing diesel to 321.17 rupees per litre and petrol to 335.86 rupees per litre.
The move is expected to fuel inflation and further strain Pakistan's economically vulnerable population. One US Dollar is currently equivalent to 278.50 Pakistani rupees.
Prior to the announcement, long queues were seen at fuel stations in major cities such as Lahore and Karachi, highlighting public concern over the price surge.
Pakistan imports most of its oil from Saudi Arabia and the United Arab Emirates via the Strait of Hormuz, making fuel costs sensitive to global price fluctuations.
