Islamabad: Amid the escalating tensions in West Asia, the Pakistan government on Sunday announced that it would hike the price of high-octane fuel by PKR 100. It means the cost has increased from PKR 200 to PKR 300. Prime Minister Shehbaz Sharif approved the increase in high-octane fuel, which is mainly used by luxury vehicles. The Pakistani government has taken the decision during a crucial meeting that was chaired by PM Sharif. In the meeting, the Pak PM took stock of the situation and matters related to fuel pricing and economic relief.
High-Octane Fuel Price Hiked By PKR 100
The increase in high-octane fuel prices will not impact public transport fares and air travel costs, ARY News reported.
The meeting was attended by Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.
Earlier Fuel Price Hike Amid Global Oil Surge
Earlier on March 6, the federal government had raised petrol and diesel prices by PKR 55 per litre as surging global oil prices, fuelled by the US-Israel war with Iran, put pressure on domestic energy costs, ARY News reported.
The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishaq Dar and Finance Minister Muhammad Aurangzeb.
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New Petrol And Diesel Prices Announced
The new price of petrol will be PKR 321.17 per litre from PKR 266.17; whereas, the diesel rate will be PKR 335.86 per litre from PKR 280.86 after the review, as per ARY News.
Airlines Raise Fares After Jet Fuel Price Increase
Meanwhile, Pakistani airlines on March 10 increased fares following an uptick in jet fuel prices, ARY News reported, citing airline sources.
According to these sources, domestic ticket prices have risen by PKR 2,800 to PKR 5,000. This increase applies to flights from Karachi to Lahore, Islamabad, and other domestic stations, as reported by ARY News.
It is worth noting that international travel has witnessed a major increase in prices with ticket prices increasing by PKR 10,000 to PKR 28,000. Tickets of flights going to Middle Eastern countries and Central Asian countries have increased by PKR 15,000.
(With ANI Inputs)
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