Record-Breaking Hike: Petrol Hits Rs 458 and Diesel Surpasses Rs 520 per Litre

In a late-night development that has sent shockwaves across the country, the Federal Government has announced a massive increase in the prices of petroleum products, effective immediately. The move comes as global crude oil prices breached the $250 per barrel mark due to the escalating conflict in the Gulf region.

Addressing a high-level press conference alongside Finance Minister Muhammad Aurangzeb, Minister for Petroleum Ali Pervaiz Malik confirmed that the price of Petrol (MS) has been increased by Rs 137.23 per litre, bringing the new price to Rs 458.40. Even more staggering is the hike in High-Speed Diesel (HSD), which saw an increase of Rs 184.49 per litre, pushing the rate to an unprecedented Rs 520.35.

“The global energy market is in a state of upheaval,” Minister Malik stated. “We are witnessing a level of volatility not seen in decades. While the government has tried to absorb the impact through administrative cuts and grounding 60% of the official fleet, the sheer magnitude of the international price surge made this adjustment inevitable.”