Federal Minister for Information and Broadcasting Attaullah Tarar said the recent increase in petroleum prices became unavoidable due to escalating tensions in the Middle East. Speaking at a public event in Lahore, he explained that rising global oil prices have created serious pressure on the national economy and forced difficult policy decisions.
He stated that the government understands public concerns and is working to reduce the financial impact on ordinary citizens. Furthermore, he assured that authorities are trying to provide maximum possible relief while managing the challenges caused by volatility in international energy markets.
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The federal government has approved a significant rise in fuel prices, increasing both petrol and high-speed diesel by Rs55 per litre. Consequently, the new rates came into effect from midnight, setting petrol at Rs321.17 per litre and high-speed diesel at Rs335.86 per litre across the country.
Officials said the decision followed a high-level meeting in Islamabad, chaired by Deputy Prime Minister Ishaq Dar. During the meeting, participants reviewed petroleum reserves, analyzed global oil trends, and assessed the impact of ongoing international market instability on domestic fuel pricing.
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The minister emphasized that global developments have directly influenced local prices, making adjustments necessary to maintain supply stability. In addition, he highlighted that the government continues monitoring market conditions closely to respond promptly to further changes in crude oil prices.
Despite the increase, authorities reaffirmed their commitment to balancing economic stability with public welfare. They added that efforts will continue to ensure energy availability, protect national reserves, and minimize further burden on consumers while international tensions remain high.