Editor Report
ISLAMABAD: The Federal Minister for Petroleum, Ali Pervaiz Malik, on Friday said regional tensions have once again driven up oil prices in the international market, forcing the government to pass the impact on to domestic consumers.In a statement, the minister said the government is facing pressure due to rising global oil prices and existing agreements with international partners, leaving it with limited options but to adjust petroleum prices.He said that for the upcoming week, the price of high-speed diesel (HSD) will increase by Rs 26.77 per litre, while petrol will also rise by Rs 26.77 per litre.The minister added that the government had absorbed as much of the global price increase as possible to shield consumers from the immediate impact.He further said that both the federal and provincial governments had previously provided what he described as a “historic relief package” to ease the burden on the public.
Expressing hope for improvement, the minister said efforts are underway to restore regional peace, which could help stabilise international oil prices and provide relief to consumers soon.
