Govt increases oil prices by up to Rs19.95 per litre

ISLAMABAD: The government has increased oil prices by up to Rs19.95 per liter.

The government has increased the petrol price by Rs19.95 per liter, bringing the new price to Rs272.95 per liter.

Similarly, the government has jacked up the price of high-speed diesel by Rs19.90, taking the new price to Rs273.40 per liter.

Speaking at a press conference in Islamabad, Finance Minister Ishaq Dar announced that the increase in petrol and diesel prices would take immediate effect.

He further elaborated that the recent surge in global oil prices compelled the government to adjust the prices, ‘keeping the national interest in view’.

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He said that the government had to implement these measures as previous commitments related to petroleum imports with the International Monetary Fund (IMF) were not fulfilled.

The petrol bomb has caused a significant uproar among the public, who are already grappling with economic hardships due to the inflation surge.

The decision has sparked debates about the government’s fiscal policies and its impact on the common citizen.

Citizens are demanding immediate relief measures to alleviate the burden of soaring fuel prices on their daily lives.

As the nation awaits the government’s response, the issue remains a focal point of discussions across the country, with concerns raised about the overall economic stability and the effects on the already strained household budgets.