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Why Yemen’s War Keeps Reproducing Itself Pakistanis faced record fuel price increases on Friday, as petrol and diesel prices rose by up to 54 per cent driven by the war in the Middle East that has caused global oil prices to surge.
The increase adds pressure to a cash-strapped nation already grappling with high inflation, as economists warned the hike would push up food prices and living costs.
Pakistan’s Petroleum Minister Pervez Malik said late on Thursday that the increase was “unavoidable”.
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He said the government was forced to raise petrol prices by 137 rupees (49 cents) per litre, following a 20 per cent increase last month.
Diesel prices were increased overnight by 184.49 rupees (67 cents) per litre, a rise of about 54.9 per cent.
Malik said the adjustments were “necessary and unavoidable” in line with global market trends, adding that the government plans to subsidise fuel for motorcyclists, although a mechanism has yet to be finalised.
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