Petrol, diesel prices hike: Fuel costs up by Rs 55/litre, here's why

Lahore (The Uttam Hindu) : If you are a motorist, this news is important for you. Petrol and diesel prices have been increased by up to 55 rupees (Pakistani Rupees) per liter. Following this increase in Pakistan, the price of petrol has now reached 335.86 rupees per liter, while diesel has reached 321.17 rupees per liter. Pakistan's Petroleum Minister Ali Pervez Malik released a video on TV to inform the public about the historic increase in retail fuel prices.

He said the price of petrol has reached ₹335.86 and diesel ₹321.17, an increase of ₹55. The petroleum minister said, "As soon as the international situation improves, we will reduce prices as quickly as possible." Earlier, Dar had said that the crisis had caused global oil prices to rise by 50 to 70 percent. He said, "Prices increase automatically in many countries, but we have tried to minimize the burden on consumers and find a balanced solution."