ISLAMABAD: The government has announced changes to the prices of petroleum products, increasing the price of petrol while reducing the rate of diesel.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs. 4.61 per litre, bringing the new price to Rs. 393.75 per litre.
Meanwhile, the price of diesel has been reduced by Rs. 1.96 per litre, with the new rate set at Rs. 422.08 per litre.
The Petroleum Division said the revised prices will be applicable from September 22.
Petrol Could Hit Rs. 1,000/Litre If Shortage Emerges, Minister Warns
Meanwhile, Federal Petroleum Minister Ali Pervaiz Malik has warned that petrol prices could climb to as much as Rs. 1,000 per litre if a fuel shortage develops in the country.
Addressing the media in Lahore, Malik stated that Pakistan does not experience a petrol shortage at present. However, he warned that in case of a major supply shortage, petrol prices may witness an abrupt surge.
Malik told that oil prices on international level had gone up significantly in Europe and the United States of America. As per Malik, the world oil prices have jumped up by about 80 percent, while Pakistan has so far passed on half of that increase to its consumers.
On top of that, the petroleum minister assured the citizens of Pakistan that the government will take all the necessary steps to avoid gas shortages in the coming winters. The government is ready to spend up to $100 million against the previous plan of $3 million if needed to have enough gas supply.
Moreover, fuel tokens worth around Rs. 180 million have been distributed in one day, i.e., Friday.
He said exploration activities had also begun at oil wells and expressed hope that new oil discoveries could be made by October.
Responding to criticism from political opponents, Malik urged political parties to refrain from politicizing difficulties faced by the public.
He also stated that the government would not allow anyone to march on Islamabad.
