The federal government has announced a sharp increase in petroleum product prices, with petrol rising by Rs135 per litre, taking the new price to Rs458.
The latest revision also saw a significant jump in high-speed diesel rates, which climbed to Rs520.35 per litre following a substantial increase. The decision was unveiled by Federal Minister for Finance Muhammad Aurangzeb in coordination with the Ministry of Petroleum, marking one of the steepest fuel price adjustments in the country’s recent history.
The move comes in the backdrop of Pakistan’s ongoing commitments with the International Monetary Fund, which has consistently urged the government to rationalise energy prices and reduce subsidies. Authorities had earlier assured the IMF of implementing necessary measures, including aligning domestic fuel prices with international market trends.