Pakistan petrol price increase
During a joint press conference, Ishaq Dar (Deputy Prime Minister) appeared alongside Muhammad Aurangzeb and the petroleum minister to explain the decision. Officials said the sharp increase is due to rising global oil prices following escalating tensions in the Middle East.
According to the government, international petroleum prices have surged by nearly 50%, forcing Pakistan to adjust domestic fuel prices. Authorities also announced that fuel prices may now be reviewed and adjusted every week depending on global market trends.
Deputy Prime Minister Ishaq Dar stated that Shehbaz Sharif is personally monitoring the situation to ensure that the burden on citizens remains as low as possible. He added that the Prime Minister has formed a high-level committee to closely monitor international oil prices and recommend further actions if needed.
Finance Minister Muhammad Aurangzeb said that Pakistan currently has sufficient petroleum reserves, but warned that if the global crisis continues for a longer period, the situation could change and the government may have to take additional measures.