The government has announced an increase in fuel prices across the country. A notification was issued by the Petroleum Division, and the new rates will apply from midnight tonight. As a result, the price of petrol has gone up by Rs 6.51 per litre. The new petrol price is now Rs 399.86 per litre.
At the same time, the price of high speed diesel has increased by Rs 19.39 per litre. This brings the new diesel price to Rs 399.58 per litre. The announcement was made earlier than usual due to the public holiday on May 1.
No Petrol Pump Strike, Supply to Continue
Meanwhile, there were rumours on social media about a possible petrol pump strike. However, these reports were clearly denied. The spokesperson for Oil and Gas Regulatory Authority said that no dealers association has announced any strike.
In addition, the Petroleum Division assured the public that fuel supply will continue without interruption. According to officials, arrangements were already made to ensure smooth supply, even after rising tensions in the Middle East.
Global Oil Prices Behind the Fluctuations
At the same time, changes in global oil prices are also affecting local fuel rates. Fears of conflict involving Iran and possible disruptions near the Strait of Hormuz have caused uncertainty in the oil market.
Because of this situation, international oil prices have seen sharp movement. Brent crude has dropped from 124 dollars to around 114 dollars per barrel. Similarly, WTI crude has fallen to nearly 104 dollars per barrel.
Overall, while fuel prices have increased, the government says supply remains stable and there is no need for panic buying. The announcement was made from Islamabad, where officials urged the public to rely on verified information only.
