ISLAMABAD: The government has announced an increase in the prices of petroleum products, with petrol rising by 5 rupees per liter and diesel by 30 rupees per liter.
While the final prices are expected to be officially confirmed shortly, this decision follows a joint press conference held by Federal Minister for Petroleum Ali Pervaiz Malik and Minister for Information Attaullah Tarar.
The ministers explained that the global market price of oil has reached 140 dollars per barrel.
They stated that the government had previously provided 130 billion rupees in relief to the public under difficult circumstances to maintain fuel supplies across the country.
Furthermore, the government announced that petroleum prices will now be determined on a daily basis, as the sector is undergoing deregulation.
The officials assured the public that the benefits of any future decline in global oil prices will be passed on to the consumers.
