The federal government has raised petrol prices by Rs55 per litre as surging global oil prices, fuelled by the US‑Israel war with Iran, put pressure on domestic energy costs.
The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishar Dar and Finance Minister Muhammad Aurangzeb.
This marks the first weekly review of fuel prices since regional tensions threatened a major share of global energy flows following the closure of the Strait of Hormuz.
Previously, the federal government adjusted petroleum prices on a fortnightly basis.
